Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-19)

The bullish momentum is insufficient and the price of the currency is temporarily suppressed
1. Market Trends <br/>Today is April 19, 2017. The current price of Bitcoin is $1,115 (contract). Yesterday, the price fluctuated upward, but the increase was limited. In the late trading, the price accelerated its decline, erasing the gains in the early trading, and the daily chart finally closed with a long shadow line.
Looking at the 4-hour chart, the moving average system (5, 10, 20) shows a short-term arrangement pattern, the MACD indicator fails to cross the zero axis, and there are signs of forming a dead cross again. The green bar chart representing the strength of the bulls is shrinking, indicating that the short-term bullish potential is insufficient, and the pace of effectively breaking through the MA60 level is suppressed by the bears. At the same time, the stochastic indicator and the strength index have entered the overbought zone, indicating that the selling pressure still occupies a dominant position in the market.
Looking at the 1-hour chart, the moving average system shows a short-term arrangement pattern, the MACD indicator crosses the zero axis and enters the weak zone, and the price of the currency falls below the MA60 of this level, indicating that the price of the currency at this level still has room for adjustment. Both the stochastic indicator and the strength and weakness index are rapidly moving to the weak zone, and the short-term trend is still dominated by the bears, but we should pay attention to the divergence phenomenon.
Overall, the trading has been in a narrow range of fluctuations in recent days, but the center of gravity of the currency price is moving upward. After yesterday's pressure from the short side, this pattern has reversed. At present, the currency price is still in a downward channel. It is not recommended to speculate on the bottom subjectively, and it is forbidden to blindly buy the bottom with a heavy position. For aggressive investors, they can participate in light positions to gain short-term profits, but they need to strictly set stop-profit and stop-loss points.
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.