Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-21)

The price of the currency breaks through 20,000 again, and the short-term trend is bullish
1. Market Trends <br/>Today is June 21, 2017. The current price of Bitcoin is RMB 19,899. After the opening yesterday, the price of the currency broke through the consolidation pattern with a large volume of long-term positive, and then adjusted back to the support level and climbed again, breaking through the RMB 20,000 mark.
Looking at the 4-hour chart, the moving average system (5, 10, 20) shows a bullish arrangement again, but the MACD indicator and the strength and weakness indicator diverge and show a top divergence. Backtesting the historical trend shows that the top divergence does not mean that the currency price will immediately pull back. The currency price will continue to slide upward along the inertia, but the possibility of a pullback in the near future is very high. Short-term investors should strengthen their risk awareness and avoid risks. The resistance zone of the currency price at this level is 20200 to 21000.
Looking at the 1-hour chart, the moving average system (5, 10, 20) shows a bullish arrangement, and the MACD indicator, strength index and stochastic indicator are all extending in the strong area, with strong momentum for long positions, and no bearish signals appear. In addition, the opening trend of the Bollinger Band indicator at this level shows that the currency at this level is still bullish.
Overall, the bulls are strong and the bears are retreating, so the price of the currency is likely to reach a new high. During the day, we can focus on the short-term resistance level of 20200. If the bulls break through with large volume, the price of the currency will hit a new high. It is recommended that long-term investors hold their positions and let the profits run. Short-term investors can enter the market with a light position and increase their positions appropriately after the bulls break the resistance line.
2. Newcomer Index <br/>The figure below shows the daily newcomer index.