Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-04)

Funds are flowing back and the price of coins is recovering
1. Market Trends <br/>Today is February 4, 2017. The current spot price of Bitcoin is 7,150 yuan. The overall trend during the Spring Festival is basically consistent with the prediction before the festival, with a significant increase. The main reasons for the rise in the price of the currency are as follows: A. The return of speculative funds in the market; B. The number of new investors entering the market every day continues to remain high; C. The bullish sentiment in the market continues; D. The negative news before the festival has been completely digested.
The weekly K-line trend is very strong. After the first surge above 8,000, it ushered in two large negative lines, followed by a strong rebound, rebounding from 5,000 to the current 7,150 yuan. At present, the weekly K-line has touched the upper track of the Bollinger Band again, and it may take time to consolidate and re-select the direction. After the daily and hourly lines broke through 6,400, they were also very strong, and they continued to climb up. However, since breaking through 7,000 yuan, the trading volume has shrunk successively, and there is a suspicion of shrinking volume and rising.
From the data point of view, the number of new investors entering the market during the Spring Festival today is several times that of last year's Spring Festival. The long-short index has been bullish for several days since January 26, and the price of the currency has continued to rise on January 31. The trend indicator shows that the current buying is relatively strong. In summary, from the perspective of big data, the current market is relatively bullish. From the perspective of technical indicators, the continuous rise consumes too much energy, and it may need to consolidate and re-select the direction. It is recommended to wait and see for short positions. 2. Newcomer Index
3. Trend indicators