Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-21)

Bulls strongly break through the midline or tend to be bullish
1. Market Trends <br/>Today is February 21, 2017. The current price of Bitcoin is 7,300 yuan. Yesterday, the price of the currency fell at the opening of the morning market until 11 o'clock in the morning, when a gap-up cross star appeared, and then it rebounded and broke through the 7,200 pressure level.
Looking at the daily chart, the moving average system (5, 10, 20) maintains an upward divergent pattern, and the 5-day moving average effectively supports the currency price. The MACD indicator shows a golden cross above the zero axis, and the area of ​​the green column representing the strength of the bulls continues to expand, indicating that there is still room for bullishness at this level in the medium and long term. At the same time, the stochastic indicator and the strength index diverge northward into the overbought zone, indicating that the bulls are stronger than the bears.
Looking at the 4-hour chart, the price of the currency has broken through the upper track of the Bollinger Band, the MACD indicator has a golden cross, and the stochastic indicator and the RSI have entered the oversold zone, indicating that the price of the currency at this level may continue to rise. However, due to the rapid increase in the bulls in a short period of time, there is still a possibility of a downward test before an upward test.
Overall, the two rebounds in the price of the currency this year were very strong. The rebound in January was in a deep V shape, while the rebound in February was slightly U-shaped, indicating that the bulls are stronger than the bears in the medium-term trend. In addition, as Bitcoin becomes more and more popular around the world, more and more people are accepting Bitcoin, which is the force that determines the fundamental trend of the currency price.
From the data observation, when the market was sideways yesterday, the trend indicator and the long-short index turned to the long side. The newcomer index in recent months indicates that the price of the currency is likely to continue to rise in the long run, and it is even expected to reach another high this year.

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.

3. The long-short index "Bitcoin price trend index" is a big data indicator obtained after the currency zone collects text data from the domestic digital currency industry and conducts semantic analysis, which directly reflects the long and short views of the market.