Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-30)

Long and short game intensifies, pay attention to the support below
1. Market Trends <br/>Today is March 30, 2017. The current price of Bitcoin is 7050 yuan. The game between long and short positions intensified in the morning yesterday, with a wide range of large volume for 4 consecutive hours. In the late trading, the long side broke through with large volume, erasing the intraday decline, but was soon suppressed by the short side. Therefore, the daily level K-line closed with a cross star.
Looking at the 4-hour chart, the MA5 and MA10 moving averages cross the MA60 and show a bullish pattern again. At the same time, the MA60 reverses the downward trend and turns to a smooth trend. Both the stochastic indicator and the strength index have a tendency to stretch northward, indicating that the bullish momentum is gradually increasing. From the Bollinger Bands, it is difficult to expand the opening due to the lack of consolidation.
Looking at the 1-hour chart, the moving average system (5, 10, 20) tends to stick together, and the MACD indicator runs in parallel in the strong area. After nearly 10 hours of square tug-of-war yesterday, the price of this level of currency broke through the upper pressure level in the form of lotus out of water, and the market outlook is bullish.
Generally speaking, after the price of the currency rebounded for three consecutive trading days, market confidence has increased, and the number of profitable floating chips has also increased. The floating chips need to be washed out in the later stage to reduce the pressure of climbing. If the price of the currency falls below the MA60 of the 1-hour cycle, it means that the bulls may take a step back and wash out the chips, and they should reduce their positions to avoid risks. Otherwise, investors are advised to hold their positions and wait and see.
Judging from the data, the market is still relatively bullish at present. After a period of slump, the index of new entrants finally saw a relatively large number of entries yesterday. The data still needs to be further observed.

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