Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-02)

Bullish breakthrough short-term bullish
1. Market Trends <br/>Today is March 2, 2017. The current price of Bitcoin is 8070 yuan. Yesterday morning, the price fluctuated in a narrow range, with a fluctuation of about 100 points. Until 1 pm, the price of the currency continued to decline, reaching a minimum of 7858, and then the bulls fought back strongly and broke through 8000 points again.
Looking at the daily chart, the moving average system (5, 10, 20) is again in a strong bullish arrangement, and the support level is still rising. The stochastic indicator and the strength index diverge from the hovering zone to the overbought zone, indicating that the bullish momentum is stronger than the bearish one, and the price of the currency at this level is likely to rise further. In the past four trading days, the price of the currency has been gradually climbing up with a smaller body K-line. The bullish momentum has not shown signs of exhaustion, and the long upper shadow line has gradually scared off the unsteady bulls.
Looking at the 4-hour line, after the oscillation adjustment, the moving average system has changed from a sticky situation to a long arrangement. The MACD indicator has formed a golden cross again. The area of ​​the green bar chart representing the strength of the bulls is expanding, indicating that the price of the currency at this level still has room to rise. At the same time, the trend of the stochastic indicator and the strength and weakness indicator shows that the bulls are leading the market trend.
In general, the current rise in the domestic market was driven by the foreign market. Last night, the foreign market price climbed to $1,230, a record high, driving the domestic market to break through 8,000 CNY again. At present, from a global perspective, the price of the currency is still in an upward channel, and the basic trend has not changed. Therefore, investors should buy on dips and do not recommend shorting on rallies.


2. Long-Short Index <br/>The figure below shows the 12-hour long-short index.