Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-16)

Foreign currency prices are recovering, and many domestic investors are on the sidelines
1. Market Trends <br/>Today is February 16, 2017. The current price of Bitcoin is 6750 yuan. Yesterday, the price fluctuated slightly, and it fluctuated in a narrow range throughout the day. Since the sharp drop on January 9, the price fluctuation has gradually narrowed, and the long and short sides are evenly matched, and are temporarily in a state of balance.
Looking at the daily chart, the moving average system (5, 10, 20) is scattered downward, and there is a trend of shock and adhesion. The closing price of the currency has been suppressed by the 20-day moving average for three consecutive days. The MACD indicator is short and stretches southward. The area of ​​the red column representing the strength of the short side is still expanding, indicating that the currency price at this level still has room for consolidation.
Looking at the 6-hour chart, the moving average system has been glued together, the price fluctuation is narrow, the MACD indicator shows that the bulls are weak, and the stochastic indicator and the strength index are almost parallel to the east near the oversold area, indicating that the price of the currency is likely to fluctuate narrowly. However, this is often the eve of the next trend becoming clear, and investors should pay close attention to the market and look for favorable trading opportunities to make profits.
Last night, the price of the foreign exchange market rose slightly by about $10, and several foreign exchange trading platforms responded. However, the domestic market is affected by various factors such as market depth, and the price is still dull. In general, the current round of currency price rebound has been weak, which is largely affected by the temporary restriction of currency withdrawal by domestic platforms. It is normal for market prices to be affected by external factors, but the internal driving force of the market cannot be ignored, and even completely unexpected trends may occur.
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.