Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-13)

There is a lot of pressure ahead and the situation will become clearer.
1. Market Trends <br/>Today is April 13, 2017. The current price of Bitcoin is 1228.3 USD. Yesterday, the price of Bitcoin tried to break upward three times, but all failed. Therefore, the overall trend was a volatile decline, and finally the market formed a small negative daily K-line.
Looking at the 4-hour chart, the moving average system (5, 10, 20) tends to stick together, the price fluctuation is gradually shrinking, and the MACD indicator is running in a strong block, but refuses to form a golden cross, indicating that the buying power is gradually weakening. As shown in the figure, the price of the currency at this level is in an upward channel. The closer it is to the previous M top, the smaller the climb, indicating that the bulls need more time to accumulate strength before breaking through.
Looking at the 2-hour chart, the moving average system is in the early stage of a bearish pattern, and the MACD indicator trend is weak. However, since both the stochastic indicator and the strength and weakness index show signs of divergence, it is likely to fall again. In addition, MA60 at this level is an effective and important support line. If the price of the currency falls and effectively breaks through it, the decline may further expand.
Overall, the price of the currency is still in the rebound channel. Through the above-mentioned analysis, the bulls are under great pressure when breaking through the previous high, but there is no obvious evidence that this round of rebound has ended. In addition, the price of the currency on major global exchanges is also under great pressure when breaking through the previous high. Investors are advised to participate with a light position and not expose most of their funds to risks.

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.