Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-26)

Bulls strongly pull up and mainly buy low and sell high
1. Market Trends <br/>Today is April 26, 2017. The current price of Bitcoin is $1220.11. The price continued to fall in the early trading yesterday, reaching a new intraday low of 1178 in the afternoon trading. After that, the bulls strongly pushed up the price and completely wiped out the early trading decline.
Looking at the daily chart, after four trading days of retracement and confirmation, it is basically verified that the previous high of $1,170 is an effective support level. The moving average system (5, 10, 20) and MACD indicators still maintain a bullish trend pattern, indicating that the price of the currency still has room to climb further. In addition, both the stochastic indicator and the strength and weakness index refuse to cross, which is a short-term buy signal.
Looking at the 4-hour chart, the moving average system (5, 10, 20) is in a bullish arrangement, and the MACD indicator is running in a strong area, indicating that the bottom support level is constantly rising. In addition, both the stochastic indicator and the RSI have entered the overbought zone, and the buying power is still sufficient. However, we should be wary of small and medium-sized positive lines with long upper shadows, which indicate that there is still a strong selling order above, and there is a possibility of consolidation and washing.
In general, after yesterday's slight correction, the price of the currency has risen strongly again. At present, the global Bitcoin market is in a relatively excited state, and the price of the currency has recovered its previous losses. Through the above price trend analysis, it is known that although there is a need for consolidation and washing, the bulls have the market advantage in the short term. Investors are advised to buy on dips and not to short on rallies.

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