Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-27)

The bullish pattern remains unchanged, short-term shock adjustment
1. Market Trends <br/>Today is April 27, 2017. The current price of Bitcoin is $1245.82. Yesterday, the overall price fluctuation showed a gradual upward trend, with the highest point of the day reaching $1253.57. After the bearish hanging line appeared on the 1-hour chart, it entered a downward channel. However, the market is still in a bullish pattern, so you cannot guess the top subjectively or trade against the trend with a heavy position.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a bullish arrangement pattern, and the MACD indicator is running in a strong area, indicating that the bottom support level is constantly rising. Both the stochastic indicator and the RSI refuse to cross and extend to the overbought area. At the same time, the Bollinger Bands show signs of opening, indicating that the market bullish pattern has not changed, but the pressure of the historical high point should not be ignored.
Looking at the 4-hour chart, the moving average system still shows a bullish arrangement, but after a round of climbing, the price of the currency has fallen back to below MA5, and the stochastic indicator and the strength index have both dropped from the overbought area to the hovering area. At the same time, the price of the currency at this level has seen a volume divergence in this round of rise. Therefore, there is a high possibility of a shock adjustment in the short term.
In general, the bullish pattern of the market has not changed, although the short side has strong volume on the hourly chart and there is a need for shock adjustment. However, in the weekly chart, the price of the currency is still in the rebound channel. It should be noted that if it fails to break through the previous high and accelerates downward, the price of the currency at this level will show a top head and shoulders pattern. 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, and pay close attention to the market.

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.