Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-19)

The market is extremely active, so short-term operations should be cautious
1. Market Trends <br/>Today is January 19, 2017. The current price of Bitcoin is 6050 yuan. Yesterday morning, the price suddenly rushed to around 6300 yuan. Yesterday's analysis did not recommend short-term investors to chase high prices. After the price surged in the morning, it began to fall back to around 6100 and traded sideways. Yesterday evening, affected by the news from the central bank again, the price of the currency plunged sharply, once dropping to 5750 yuan, and then rebounded to 5900 and traded sideways. This morning, it was pulled up again to around 6100 yuan.
The market has been very active recently. It can be said with certainty that the market is still in a bull market, but it is difficult to make a further judgment as to which stage the bull market has reached.
Looking at the daily K-line, it is possible to oscillate widely in the large range of 5700 yuan to 6300 yuan. It is also possible to drop to around 5500, forming a double bottom pattern. The middle track of the daily K-line Bollinger band is still around 6300, which can be regarded as the dividing line between long and short in the medium and short term. If the price breaks through 6300, the market will be relatively strong, and below 6300, it will be relatively weak.
The daily K-line and 12-hour line are currently blocked by the 30-period moving average. If they cannot break through effectively, the market will be relatively bearish for the time being. If they can break through with large volume, the price of the currency will continue to rise. The trading volume of many domestic and foreign trading platforms we have observed has indeed been shrinking recently. The trading volume of state-owned trading platforms has dropped significantly. It is speculated that many trading robots have temporarily withdrawn and stopped trading due to the influence of the central bank. The four-hour and six-hour lines are supported by the 30-period moving average, showing relatively strong performance, which has pushed the 1-hour line upward.
From the news perspective, yesterday evening the central bank released part of the investigation into Bitcoin platforms to relevant media, which caused market fluctuations. The vast majority of investors welcome the government's guidance and supervision of the entire industry, and make compliance compliant, so that everyone's investment funds can be more secure, which can be more conducive to the long-term development of the industry.
From the data, the decrease in the number of new investors before the Spring Festival is expected, and the central bank's investigation also brings a lot of uncertainty. Short-term operations are not recommended at present, and long-term investment is recommended. The future market may usher in after the Spring Festival holiday.

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.