Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-21)

Bulls show their strength while bears retreat
1. Market Trends <br/>Today is April 21, 2017. The current price of Bitcoin is $1180.07. Yesterday, the price of the currency was generally in a wave-by-wave upward trend. At the beginning of the opening, the bulls pulled up strongly, and then entered a narrow horizontal fluctuation pattern. In the late trading, the price of the currency rose again, and the highest point of the day reached $1185.88.
Looking at the daily chart, the moving average system (5, 10, 20) shows a sticking trend, the MACD indicator forms a golden cross in the strong area, and the stochastic indicator and the strength index are both out of the overbought area and stretching northward, indicating that the coin price still has room to rise in the future. However, due to the large supply of the previous high, if the multi-party high trading volume breaks through, the effect will be better. In addition, yesterday's price of this level of coin showed a bullish pattern of Jiaolong going out to sea, which further verifies the validity of the rising signal.
Looking at the 4-hour chart, the moving average system shows a bullish arrangement, the MA60 sliding direction is flattening, and the MACD indicator has crossed the zero axis, indicating that the bullish momentum is gradually increasing. In addition, this round of rise shows strong volume, and both the stochastic indicator and the strength index have entered the overbought zone, indicating that the price of this level of currency still has room to rise.
Overall, although the previous high pressure still exists, the market is in a relatively excited state, breaking the rectangular oscillation pattern that has lasted for six trading days. If the previous high is broken with large volume, it can be regarded as a buy signal. If the price shows obvious stagflation signals near the previous high, you should reduce your position appropriately to control the risk, but if there is a confirmation signal of a pullback at the weekend, you can build positions in batches appropriately.

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.