Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-02)

The price of the currency is blocked and then breaks through after adjustment
1. Market Trends <br/>Today is June 2, 2017. The current price of Bitcoin is $2458.79. After the opening yesterday, the price of the currency has been rising. In the late trading, it encountered resistance and fell into a consolidation trend. As analyzed yesterday, after the bullish pattern begins to show its edge, the price of the currency will start a wave of rising market.
Looking at the daily chart, the moving average system (5, 10, 20) has not yet formed a long arrangement, but the red bar chart representing the strength of the short side shows a shrinking trend, and the MACD indicator shows signs of forming a golden cross in the strong area, indicating that the currency price still has room to go up. At the same time, the stochastic indicator and the strength index have both moved away from the oversold area and extended to the overbought area, and the buying power is gradually increasing.
Looking at the 4-hour chart, the moving average system shows a bullish arrangement, the MACD indicator breaks through the zero axis, and the bulls gradually regain the market dominance. At the same time, the Bollinger Bands at this level show an opening trend, and the stochastic indicator and the strength index extend northward to the overbought zone, and this level is still bullish.
In general, as analyzed yesterday, the coin price fell sharply and then formed a triple bottom adjustment mode. After breaking through the neckline, a wave of rising market will begin. The coin price encountered some resistance when it attacked last night (as shown in the figure), but there was no sign of stagnation. Therefore, the positions that have been acquired can move the stop loss upwards, and investors who have built positions can wait for the price to get rid of the resistance level before waiting for an opportunity to enter.

2. Newcomer Index <br/>The figure below shows the daily newcomer index.