Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-06)

The price of the currency has risen and then fallen again, and a rebound is still expected in the future
1. Market Trends <br/>Today is April 6, 2017. The current price of Bitcoin is 6990 yuan. Yesterday, the price of the currency rose gradually at the opening, and then stagflation occurred. In the afternoon trading, it fell rapidly and completely wiped out the gains in the early trading. Therefore, the daily K-line is still a cross star with a negative closing.
Looking at the daily chart, the moving average system (5, 10, 20) shows a sticky pattern, while the MA20 is still moving downward. After the MACD indicator appears a golden cross, it continues to slide towards the zero axis, and the area of ​​the green bar chart is still expanding, indicating that the strength of the trend is increasing. However, due to the two consecutive highs and falls of the bulls, the pressure from above cannot be ignored.
Looking at the 4-hour chart, the moving average system is in a chaotic trend, and the price of the currency is supported by MA60. The MACD indicator is weak, and the stochastic indicator and the strength index have not entered the overbought zone, indicating that the bulls have a temporary intention to pull up, and there is still time for adjustment. However, the Bollinger Bands at this level are flat, and the next short-term trend may soon become clear.
In general, the price of the currency fell yesterday and was supported by the 4-hour MA20, which is the dividing line between the short-term bull and bear markets. Although the bulls have been suppressed many times, the bears do not have an absolute advantage at present. Before the rising trend is confirmed, it is recommended to use a light position and short-term as the main operation strategy. If the price of the currency effectively falls below the 4-hour MA60, temporarily exit the market to avoid 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.