Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-25)

The medium- and long-term upward trend remains unchanged, and there is a demand for a short-term correction
1. Market Trends <br/>Today is April 25, 2017. The current price of Bitcoin is $1192.13. Yesterday morning, the price of the currency was suppressed by the 1-hour MA60 and showed a fluctuating downward trend. It was not until the afternoon that it rose slightly. However, as of press time, the 1-hour chart showed a strong bearish sign, indicating that the price of the currency still needs to be adjusted in the short term.
Looking at the daily chart, although the moving average system (5, 10, 20) shows a bullish arrangement, the MA5 is too steeply tilted upward, overdrawing the potential for rising. In addition, the price of the currency showed a top divergence when it broke through the recent high, indicating that the market needs to adjust in the near future.
Looking at the 4-hour chart, the moving average system shows that the bearish market structure has not changed for the time being, the MACD indicator refuses to form a golden cross, and the stochastic indicator and the strength index quickly slide from the strong area to the hovering area, indicating that it is difficult for the bulls to launch a substantial rise in the short term, and the short-term downward potential has not yet been fully released.
In general, the price of the currency needs to be adjusted in the short term, and the bearish trend is stronger on the smaller charts. However, on the weekly chart, the market is still in the rebound channel, and there is still room for growth in the medium and long term. When the price of the currency rebounds to a record high, the market has accumulated a large amount of profit floating chips in the short term. It is not recommended to buy high with heavy positions, but it is possible to intervene appropriately with light positions when the price drops.

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.