Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-14)

The bears are full of confidence while the bulls retreat downwards
1. Market Trends <br/>Today is April 14, 2017. The current price of Bitcoin is 1187.9 USD. At the beginning of yesterday's opening, the price of Bitcoin fluctuated and fell, but was stopped by the support of MA60 on the 1-hour chart and then rebounded. After that, the bears staged a comeback and once suppressed the price of Bitcoin to 1163. The bulls turned to defend the support level of the previous trading intensive area.
Looking at the 4-hour chart, the moving average system (5, 10, 20) is in a short position, the price of the currency has dropped below MA60, and the MACD indicator has broken through the zero axis from top to bottom, indicating that the market is relatively weak. However, the stochastic indicator and the strength index show a bottom divergence pattern, so the possibility of a bullish counterattack cannot be ruled out.
Looking at the 1-hour chart, the moving average system tends to stick together, the MACD indicator forms a golden cross below the zero axis, and the green column representing the strength of the bulls continues to expand. At the same time, the price of the currency at this level shows a rebound trend. However, the rebound volume is very small, and the stochastic indicator and the strength index quickly turn from the strong zone to the hovering zone, indicating that the market has not yet reached a consensus on the bullish opinion.
Overall, the bulls turned to defend the support level of the previous trading concentration area, and the bears still maintained their aggressive momentum, which means that the rebound trend since March 25 will come to an end. Since it is in the early stage of decline, investors are not recommended to buy at the bottom. If there is a large-volume rebound over the weekend, you can participate with a light position, but don't expect too much profit margin.
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.