Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-20)

Trading volume is decreasing and wait-and-see sentiment is growing
1. Market Trends <br/>Today is January 20, 2017. The current price of Bitcoin is 6,150 yuan. In the early morning, the price once surged to 6,250 yuan, and then quickly fell back. From the observation of various trading platforms at home and abroad, the market transaction volume has decreased significantly, and the wait-and-see sentiment is becoming relatively strong.
From the weekly chart, there were two big negative lines in the last two weeks, and a big positive line is about to be closed this week, which may be a signal of rebounding from the decline, or it may be a transit line of decline. Since the weekly line crossed the EMA30 cycle golden cross in October 2015, it is still a little bit off. The position of the weekly EMA30 is currently around 4800, the lowest point of the callback last week. The EMA7 cycle moving average is around 5900. From the weekly chart, if it can be stabilized near the current price, allowing the market chips to be exchanged may be more beneficial to the future market.
Since 4800, the daily line has recovered 1400 points of falling space after continuous rebound. In the short term, the daily K-line and 12-hour line have stood above the EMA30 period moving average, but it is not strong enough. After breaking through, it once reached 6250 yuan, but was soon suppressed to around 6050. If the price drops to 6050 yuan again and goes sideways, the market may turn to the short side. The daily K-line oscillates widely in the large range of 5700 yuan to 6300 yuan. The upper resistance range of 6300 to 6500 is the locked-in range since the decline below 8000 yuan, which may not be easy to break through in the short term.
The four-hour and six-hour lines are currently trending towards a double top, with the neckline at the integer mark of 6000. The previous four-hour period closed with a negative cross star. If the current four-hour period also turns to a negative line, the bullish momentum will show weak.
From the data, the long-short index indicator has been relatively biased towards the short side recently, and various reasons have led to low market sentiment. The market is volatile, so short-term operations are not recommended at present, and long-term investment is recommended. The future market may come after the Spring Festival holiday. 2. Price trend indicator "Bitcoin price trend index" is an indicator similar to the "long-short index" calculated by the currency zone based on the statistics of 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 the price trend.