Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-21)

The long side gradually recovers the lost ground and the triangle is waiting to be broken
1. Market Trends <br/>Today is March 21, 2017. The current price of Bitcoin is 7160 yuan. In the morning yesterday, the long and short positions were in a tug-of-war, testing each other. In the late trading, the 1-hour K-line was consolidated in the form of a small cross star or a short body, and the market was quiet. When the direction is unclear, you need to be cautious when opening a position.
Looking at the daily chart, the moving average system (5, 10, 20) is still in a bearish arrangement. The MACD indicator has a tendency to cross the zero axis from top to bottom. From the fact that the stochastic indicator and the strength index are hovering in the oversold zone and not extending to the north, it can be seen that the market is still relatively weak and it still takes time to determine the direction.
Looking at the 4-hour chart, the moving average system is sticking together, and the K-line is oscillating sideways with a small cross star or a short body, indicating that both the long and short sides are dormant at this level. However, since the green column of the MACD indicator is still expanding overall, the stochastic indicator and the strength index have also entered the overbought zone, indicating that the long side may choose to attack at an opportunity.
In addition, since the daily K-line has been close to the moving average system after yesterday's rebound, backtesting historical data shows that it needs to be consolidated to determine the next trend. Although the market is currently in an oversold rebound pattern, the bullish momentum has not been significantly enhanced. Therefore, it is recommended that investors wait and see, watch more and do less.
From the data observation, the newcomer index has dropped significantly since last week. Companies in the digital currency industry may be affected by the policy and have begun to tighten their external publicity strategies and reduce their operational energy. From the perspective of the long-short index, in the past two or three weeks, regardless of the price increase, the market has been relatively bullish, indicating that the market demand for Bitcoin is still relatively large. More data remains to be observed.


2. Long-Short Index <br/>The figure below shows the long-short index of the daily line.