Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-15)

The rebound was blocked again and the shock resolved the pressure
1. Market Trends <br/>Today is March 15, 2017. The current price of Bitcoin is 7930 yuan. Yesterday morning, the price of the currency first broke through slightly and then entered a weak and volatile consolidation trend, hitting a new intraday low of 7840 at 15:00. After that, the price of the currency rose slightly and wiped out the morning's decline. But this morning, the price of the currency continued to decline, and it was obviously blocked.
Looking at the daily chart, the moving average system (5, 10, 20) has not yet completed the bonding, and the price of the currency has been hindered by MA20 for four consecutive days. The bulls still need time to consolidate and release the selling pressure of profit-taking. At the same time, the middle track of the Bollinger Bands has blocked the upward movement of the currency price for four consecutive times, and the weak trend of the MACD indicator has not changed, indicating that the resistance of the currency price in this round of rebound is still large, and the possibility of a high rise in the short term is small.
Looking at the 4-hour chart, the long arrangement of the moving average system has been destroyed, showing a tendency to stick together, but MA20 at this level is still an effective support line. The MACD indicator has a dead cross, the bar chart turns red and runs below the zero axis, and the stochastic indicator and the strength index hover in the oversold area and have no signs of radiating northward, indicating that the currency price at this level may continue to run weakly. However, it is necessary to pay attention to the exhaustion of the energy of the short side and the long side will take the opportunity to adjust the decline.
Overall, the difference between the domestic and foreign exchange prices has further widened. The foreign exchange price is still rising strongly, just one step away from the historical high, while the domestic exchange rebound has been repeatedly blocked, and it seems to have become a depression in the world's currency price. Driven by the foreign market, the domestic market still has the advantage of the bulls, and the bears have limited power to suppress the currency price. Therefore, buying on dips is less risky than selling on rallies.

2. Long and short index <br/>The figure below shows the 2-hour long and short index.