Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-13)

The price of the currency fluctuates within a narrow range, so be cautious when opening a position
1. Market Trends <br/>Today is February 13, 2017. The current price of Bitcoin is 6824 yuan. Last week, the price of the currency showed a strong bearish trend K-line, and the bearish momentum was surging. On Saturday, the bulls took the opportunity to counterattack and formed a long-realm positive line. Since then, the market has entered a narrow range of fluctuations, which means that both the bulls and bears are temporarily content with the status quo and are in a state of equal strength. Under this situation, it is necessary to be cautious when opening a position.
Looking at the weekly chart, last week's K-line failed to continue the previous upward trend, and a strong bearish K-line appeared. At this point, the double-shoulder top pattern has basically formed, and the price of the currency is facing a sudden increase in pressure to break through. However, the long arrangement of the moving average system (5, 10, 20) has not been destroyed, and the MACD still shows a bullish trend. The stochastic indicator and the strength index are in the hovering zone and oscillate eastward, indicating that the basic trend of the currency price is still bullish. After the short-side energy blowout, the bulls are not in a hurry to fill the vacuum left, and the bias of stronger price behavior remains to be observed.
Looking at the 6-hour chart, the market has not seen a trending candlestick in the past two days, but has been oscillating with a cross candlestick or a shrinking candlestick, which is suppressed by the 20MA. However, this may be a signal of buying pressure accumulation. The moving average system (5, 10, 20) is in a state of adhesion. At the same time, the MACD trend shows that the bulls are in a state of hesitation. Both the 6-hour and 4-hour charts are blocked by the EMA30 period moving average, which may form a second bottoming trend.
In an upward trend, investors often regard a short-term rapid decline as an opportunity to buy on dips, and expect a strong bullish price action after the value is underestimated. If the subsequent selling is weak, the bulls will take the opportunity to regain the initiative and a rebound will occur. However, if the bulls escape, it is possible that the bears will take the opportunity to expand their gains. Therefore, short-term investors need to be cautious when building positions. At present, it is safer for mid-term investors to wait and see.
From the data observation, the long-short index is slightly bullish, but is shifting to the short side. The newcomer index has climbed again in recent days, indicating that the number of people paying attention to Bitcoin investment is further expanding. The trend indicator shows that the current market is uncertain, the trading volume is further reduced, or there may be more people waiting and watching.

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.