Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-10)

The market continues to rise for half a month and moves forward cautiously
1. Market Trends <br/>Today is April 10, 2017. The current price of Bitcoin is 7220 yuan. Yesterday morning, the price of the currency climbed up and was suppressed by the 1-hour MA60. In the afternoon, it fell back to the opening price. After forming a "retail investor pit" pattern and washing out the chips again, the bulls pulled up strongly.
Looking at the daily chart, the moving average system (5, 10, 20) shows a weak bullish arrangement, while the MA20 is still running downward, adding uncertainty to the future price increase. The MACD indicator shows signs of breaking through the zero axis from bottom to top, and the green column area representing the strength of the bulls is gradually expanding, indicating that the market is in a strong bullish state. However, the price of the currency is obviously suppressed by the MA60, and as the dividing line between bulls and bears, it still takes time for the bulls to effectively break through.
Looking at the 4-hour chart, after breaking through the previous high, the current level of the coin is now shrinking and pulling back. At the same time, the MACD indicator is in a strong zone and the bar chart is back above the zero axis, indicating that the price of the current level of the coin still has room to rise. However, as the stochastic indicator and the strength and weakness index retreat to the hovering zone, there is pressure on buying to attack, so the possibility of a high rise is small, and it is more likely to fluctuate upward.
In general, since the rebound on March 25, although dangerous signals such as large shadows and long upper shadows often appear, the center of gravity of the currency price is gradually moving up, and the bulls are still in an advantageous position. At present, the currency price is suppressed by the bull-bear dividing line (MA60 on the daily chart), and it will take some time to effectively break through. In addition, the US dollar is only one step away from the historical high, and the Japanese yen is hitting the neckline. The global currency price is in a rebound channel.
The impact of the hard fork controversy seems to have come to an end, but it is still full of uncertainties, and we still need to pay attention to whether the previous sharp decline or correction will occur again.

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.