Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-16)

The foreign market continues to rise slowly, and the domestic market price is suppressed
1. Market Trends <br/>Today is March 16, 2017. The current price of Bitcoin is 7970 yuan. Yesterday, the price of Bitcoin continued the previous narrow range of fluctuations, with a fluctuation of about 100 points throughout the day. In the end, the market closed with a small cross star on the daily K-line. As analyzed yesterday, the long and short positions are evenly matched, and the pressure needs to be relieved by fluctuations.
Looking at the daily chart, the moving average system (5, 10, 20) is still extending towards the sticking trend. As emphasized a few days ago, the price of the currency was still hindered by MA20 and the middle track of the Bollinger Band yesterday. Because these two indicators are at the same price, the resistance effect is strong. The area of ​​the red bar chart of the MACD indicator continues to shrink, and the stochastic indicator stretches to the overbought area, indicating that the energy of the bulls at this level is stronger than that of the bears, but it has not yet seized absolute dominance.
Looking at the 4-hour chart, the moving average system is in a state of adhesion, and the price fluctuates around it. The MACD indicator's red and green bar charts alternate, and the stochastic indicator and the strength index run almost parallel to the east, indicating that the price of the currency at this level still needs to fluctuate in a narrow range. However, yesterday's closing price of the currency successfully broke through MA20, indicating that the bulls are still in an advantageous position.
In summary, the overall market situation is still leaning towards the bulls, but it is not recommended to implement overly aggressive strategies before the price effectively breaks through the MA20 pressure level of the daily line. As the price of the currency is at a high level and the long and short positions are in a stalemate, it is recommended that investors control their positions reasonably before the direction is clear.
From the data observation, the number of new entrants has been flat recently, and the market is slightly bullish. The price of Bitcoin in OTC and foreign platforms continues to rise. Due to the limitation of currency withdrawal on domestic platforms, everyone is more cautious.

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.