Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-28)

The price of the currency hit a new high and strengthened risk control
1. Market Trends <br/>Today is April 28, 2017. The current price of Bitcoin is $1285.82. After a brief decline in the early trading yesterday, the price continued to rise. At 23:00 in the evening trading, the price exceeded $1300, setting a new record.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a bullish arrangement, and the MACD indicator is running in a strong area, indicating that the bottom support level is constantly rising. In addition, the opening of the Bollinger Bands at this level is still expanding, indicating that the market trend is dominated by bulls. However, this time the price of the currency hit a record high and the volume diverged, and the potential risks cannot be ignored.
Looking at the 4-hour chart, the bullish pattern of the moving average system remains intact for the time being, but the price of the currency has fallen into a sideways shock pattern after breaking through the highest point. Both the stochastic indicator and the strength index have left the overbought zone and entered the hovering zone, indicating that after the price of the currency broke through the historical highest point, the number of profitable floating chips for exchange profit increased. After the supply increased, the price of the currency continued to soar.
Generally speaking, after the price of the currency hit a record high in the late trading yesterday, there was a strong willingness to convert short-term operating funds into profits. In addition, more longs have turned into shorts. From the weekly chart, it can be seen that since late 2015, after breaking through the previous important high point, the price of the currency will fall back to confirm and then rise. It is recommended that investors who seek short-term band profits lock in profits and reduce their positions appropriately. For long-term investors, as mentioned yesterday, before there is a trend reversal signal, it is not recommended for investors to subjectively guess the top and operate against the trend. It is better to watch more and do less.

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