Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-26)

The price of the currency will adjust as expected. Wait patiently for the opportunity.
1. Market Trends <br/>Today is May 26, 2017. The current price of Bitcoin is $2343.57. Yesterday, the price of the currency continued to slide upward at the opening, reaching a high of $2900. After that, the market formed a bearish hanging line in the hourly chart, and the price of the currency fell sharply.
Looking at the daily chart, the bullish arrangement of the moving average system (5, 10, 20) is still intact, the price of the currency has adjusted MA5, and the area of ​​the green column of the MACD indicator has begun to shrink. As analyzed yesterday, the price of the currency has a need for a correction after nine consecutive positive lines. Both the stochastic indicator and the strength index have extended southward from the overbought area to the hovering area. The bulls need time to digest the selling pressure of the profit-taking plate.
Looking at the 4-hour chart, the bullish pattern of the moving average system has been destroyed, and the MACD indicator forms a dead cross in the strong area, indicating that the currency price at this level is likely to continue to adjust. Moreover, both the stochastic indicator and the strength index extend southward from the overbought area to the oversold area, and the bulls may tentatively counterattack in the short term.
Overall, this is not enough to indicate that the bull market has fundamentally reversed. As analyzed yesterday, as prices continue to rise, the floating chips increase, and the willingness to cash out will naturally increase, which will put pressure on the currency price to rise again. For long-term investors, it is recommended to lock in part of the profits and reduce financial risks. Short-term investors can patiently wait for the opportunity of a callback and should not blindly intervene with heavy positions.
2. Newcomer Index <br/>The figure shows the 12-hour newcomer index.