Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-18)

The price of the currency may pick up in the future if the volume increases slightly
1. Market Trends <br/>Today is April 18, 2017. The current price of Bitcoin is $1240.4. At the beginning of yesterday's opening, the price of the currency rose slightly, and then entered a fluctuating downward pattern. In the late trading, the bulls hit the previous high with large volume. Due to the eagerness to pull up, potential uncertainties have increased, and the market is expected to continue to pick up.
Looking at the 4-hour chart, the moving average system (5, 10, 20) shows a bullish arrangement, the MA60 runs upward again, and the MACD indicator crosses the zero axis and enters the strong area, indicating that the bulls are strong at this level. However, due to the steep upward tilt of the moving average system, and the price of the currency has touched the upper line of the consolidation right triangle pattern of this round of small-level adjustment (as shown in the figure), the potential uncertainty has increased, but the possibility of breaking through this upper line is relatively high.
Looking at the 1-hour chart, the moving average system entered an adjustment trend after the bullish divergence, accumulating strength to attack again. The MACD indicator, stochastic indicator and strength index are all in a strong area, indicating that the bulls are leading the market trend. However, after the large-volume medium-sized positive line broke through the pressure of the triple top, the trading volume per unit time shrank rapidly, and a series of K-lines with long upper shadows appeared, indicating that there is still pressure from above.
Overall, the market is currently in a bullish pattern. Although this rebound has many flaws, it is a taboo to go against the trend. In order to increase the yield as safely as possible, it is recommended that investors open positions after breaking through the upper line of the triangle at the 4-hour level and when the market confirms a pullback. For aggressive investors, they can take a light position to gain short-term profits.
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.