Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-07)

Market confidence strengthens and bulls regain their edge
1. Market Trends <br/>Today is April 7, 2017. The current price of Bitcoin is 7,160 yuan. Yesterday, the price of the currency rose wave by wave, and the bulls maintained a strong position. Therefore, the market has formed a medium-yang candlestick with very short upper and lower shadows in the daily chart, indicating that market confidence is gradually increasing.
Looking at the daily chart, the moving average system (5, 10, 20) shows a bullish arrangement again, the MACD indicator continues to extend to the strong block, and the area of ​​the green bar chart representing the bullish strength is constantly expanding, indicating that the volume of this round of shock upward market is well coordinated. After the stochastic indicator and the strength index form a golden cross, they extend from the hovering area to the strong area, indicating that the buying power is gradually increasing. However, MA60 at this level is an important pressure position, and the currency price needs to break through effectively before rising.
Looking at the 4-hour chart, the moving average system is rising in a bullish pattern, the MACD indicator forms a golden cross in the strong area, and the area of ​​the green bar chart is also expanding, indicating that the rising potential of the currency at this level is gradually increasing. In addition, after nearly a week of horizontal parallel operation, the Bollinger Bands are showing signs of opening due to the rise in the currency price, which is a potential bullish signal.
Overall, the domestic currency price is still in a fluctuating upward channel, and the rebound trend has not ended. At present, compared with the US dollar and Japanese yen prices, the domestic currency price has once again formed a depression, with a price difference of up to 1,000 yuan. As analyzed the day before yesterday, the excessive strength of the foreign currency price will drive the domestic currency price up. Therefore, the probability of the domestic currency price breaking through the short-term pressure level is relatively high, and investors can intervene in the market with appropriate positions.

2. Newcomer Index <br/>The figure shows the 12-hour newcomer index.