Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-13)

The price of the currency stabilizes slightly and the mid-line may be optimistic
1. Market Trends <br/>Today is March 13, 2017. The current price of Bitcoin is 7950 yuan. Yesterday, the price fluctuated in a narrow range in the early trading, with a fluctuation of about 100 points. Until 9 o'clock in the evening, the bulls pulled up sharply, reaching a maximum of 8000 points, and finally closed with a medium-sized positive line. This means that the decline of the big negative line the day before yesterday has stabilized.
Looking at the daily chart, the moving average system (5, 10, 20) has a tendency to stick together, and the price of the currency is blocked by the same pressure line of the middle track of the Bollinger Band and the 20-day moving average. The price of the currency at this level needs to release pressure step by step. The MACD indicator is still above the zero axis, and the area of ​​the red bar chart representing the strength of the short side is shrinking. The stochastic indicator and the strength index diverge northward from the oversold area, indicating that the energy of the bulls is stronger than that of the bears.
Looking at the 4-hour chart, the moving average system is in a bullish arrangement, supporting the upward movement of the coin price. The stochastic indicator and the strength index diverge to the overbought zone, and the MACD indicator shows signs of crossing the zero axis from bottom to top, indicating that the coin price has room to rise at this level. However, 8200 points is an important resistance level, where the bulls and bears have fought against each other many times and separated the short-term trend.
In general, since 2017, the rebound cycle and callback range of the currency price have become shorter and shorter. Compared with the callback range of nearly 50% in early January and the rebound cycle of 27 days to the callback range of nearly 20% in early February and the rebound cycle of 19 days, the callback range this time is only about 14%, and it quickly stabilized and rebounded. Most importantly, the top and bottom of the rebound are constantly rising, indicating that the basic trend of the currency price is still bullish.
Judging from the data, the number of new domestic investors seems to have decreased recently, but the long-short index reflects that the confidence in the price of Bitcoin in the market is sufficient, and it has recently tended to be bullish.

2. Long and short index.
As shown in the figure, this is the long and short index of the daily line.