Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-06)

Many parties are attacking the camp and taking the stronghold. Pay attention to the short side's test
1. Market Trends <br/>Today is March 6, 2017. The current price of Bitcoin is 8370 yuan. Last week, the price of Bitcoin had five consecutive positive lines, and it did not adjust until the weekend, falling to the lowest level of 8040. After that, the bulls continued to recover the lost ground and broke through 8300 points again. As analyzed last Friday, after the price of Bitcoin continued to rise, the bulls need to accumulate strength to break through again.
Looking at the weekly chart, the moving average system (5, 10, 20) is still arranged in a bullish pattern, and the area of ​​the green bar chart representing the strength of the bulls continues to expand, indicating that the price behavior at this level is still strong. However, since the coin price is far away from the moving average system and is suppressed by the upper track of the Bollinger Bands, it means that the coin price may test downwards for a while this week.
Looking at the daily chart, the green bar chart area representing the strength of the bulls is generally shrinking, and the stochastics and strength indicators at this level have not continued to radiate northward in line with the strong price behavior, indicating that the internal bulls are relatively negative. Therefore, the bears were waiting for an opportunity to test the defense line of the bulls the day before, and once fell to 8040.
At present, since the withdrawal service has not been restored, the domestic coin price has been moving in its own direction, and the difference between the domestic and foreign coins has continued to widen. If the withdrawal service is restored as scheduled, the domestic coin price may fluctuate significantly. In this case, it is recommended that investors arrange their positions reasonably and short-term investors should appropriately reduce their contract positions.
From the data observation, after a couple of days of adjustment, the long-short index showed a clear bullish trend again. However, there is a lot of uncertainty at present, so it is better to be cautious in the short term and continue to hold in the medium term.

2. Long-Short Index <br/>The figure below shows the long-short index for 1 hour.