Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-01)

The price of the currency breaks through the pressure and the bull pattern reappears
1. Market Trends <br/>Today is June 1, 2017. The current price of Bitcoin is $2297.99. After the opening yesterday, the price of the currency showed an upward trend, but it did not break through the previous high pressure level, and then fell, once falling below $2,000. In the afternoon trading, the price of the currency rose again, and as of press time, it has broken through the previous high pressure level.
Looking at the daily chart, the moving average system (5, 10, 20) has not yet formed a bullish arrangement, and the MACD indicator has not yet formed a golden cross. However, the price of the currency has broken through the flat top price of the previous 4 trading days, and both the stochastic indicator and the strength index have extended their hovering zone to the north after oscillating in the oversold zone, indicating that the active buying momentum is still relatively strong.
Looking at the 4-hour chart, the moving average system has transformed from a sticky trend to a bullish pattern. The MACD indicator is about to cross the zero axis. The stochastic indicator and the strength index are both extending northward to the overbought zone, indicating that this level is bullish. Since May 27, the K-line trend of this level has shown a triple bottom pattern, and the price of the currency has broken through the pressure line of this pattern, and the market outlook is bullish. However, the current price of the currency is suppressed by the MA60 of this level, and it needs to break through it again to attack sharply.
In general, the bulls are still washing the previously acquired chips, and a new round of market needs to break through the 4-hour chart MA60 pressure level. From the trend of smaller-level charts, the bullish pattern of the currency price is beginning to show its edge. It is recommended that short-term investors buy on dips, and long-term investors continue to hold positions unchanged.

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