Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-13)

The bearish trend is still there, please don't blindly buy the bottom
1. Market Trends <br/>Today is June 13, 2017. The current price of Bitcoin is 19,379 yuan. After the opening yesterday, the price of the currency fell into a pattern of ups and downs. During the trading period at 1 pm, the price of the currency began to fall back, and the lowest point of the day reached 17,889. At present, the price of the currency has temporarily stopped falling at the support level below, but there is no clear sign of a strong rebound. Don't blindly buy the bottom.
Looking at the daily chart, the moving average system (5, 10, 20) has a tendency to form a dead cross, and MACD forms a dead cross in the strong area. The price trend of this level is still bearish. In addition, the stochastic indicator and the strength have not shown a bottom divergence phenomenon, and the adjustment may continue. As shown in the figure, in the short term, pay attention to whether the upward trend line is effectively broken. If it is effectively broken, the adjustment time may be extended.
Looking at the 4-hour chart, the bullish arrangement of the moving average system has been destroyed, the price of the currency has fallen below MA60, and the MACD indicator is crossing the zero axis, and the trend at this level is bearish. Both the stochastic indicator and the strength index have extended to the oversold zone, and the price of the currency at this level has fallen below the middle track of the Bollinger Band, indicating that the selling of profit-taking is still continuing.
In general, as analyzed yesterday, after all indicators in the above-mentioned level charts consistently sent out short-selling signals, the possibility of a short-term correction in the currency price is relatively high, but this has not fundamentally reversed the basic upward trend. For short-term investors, you can pay attention to the 4-hour chart MA60 support level, and long-term investors can still hold their positions.
2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coinzone based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the distribution of long and short forces in the current market in order to better analyze and judge price trends.