Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-13)

The price of the currency is still under pressure to rebound after a deep correction
1. Market Trends <br/>Today is January 13, 2017. The current price of Bitcoin is 5405 yuan. After the opening yesterday, the price of the currency continued to fall, and the lowest price fell to around 4880. At 8 o'clock in the morning, the market formed a hammer line with a long lower shadow in the 2-hour chart, and the currency price rebounded from then on.
Looking at the 6-hour chart, after three mid-yin lines, a cross star with a long lower shadow appeared yesterday, and the price of the currency entered a stabilizing rebound trend. The moving average system (5, 10, 20) is still in a short position, and the rebound is resisted by MA20. MACD shows that the rebound momentum is insufficient. Therefore, the rebound strength at this level may be limited in the short term.
Looking at the 2-hour chart, the price of the currency stopped falling at the hammer line yesterday and rebounded in a narrow range. Since the 11th, this level has oscillated out a relatively perfect bullish round bottom, indicating that the rebound energy of the currency price at this level is strong, but it is suppressed by MA20. If the price of the currency breaks through MA20 and MACD breaks through the zero axis upward, the rebound space will increase.
Although the price of the currency continues to fall and is seriously oversold, there is no sign of the downward trend ending. The rebound momentum is still insufficient and is still under pressure. For aggressive investors, you can try to go long with a small position. For risk-averse investors, it is better to wait and see with empty positions. Blindly buying at the bottom with a large position will result in a large risk exposure.
From the data observation, when the price of the currency was consolidating around 6300, the long-short index tended to be bullish, but due to the news, the price of the currency did not rise as expected. The locked-in position above 6000 was serious, and it may not return to the position where the decline began in the short term. The market was slightly bullish yesterday, and when the price of the currency rose to above 5400 in the middle of the night, the market was slightly bearish, and the momentum for a rebound in the short term was not very strong. However, affected by the price plunge and the continuous reports of various media, the number of new entrants hit a one-year record high. The medium and long-term price trend is still not suitable for excessive bearishness. Those who are locked up at the top should wait patiently for the release. The uncertain thing in the market is that the central bank's investigation has not been completely completed. Conservative investors can choose to wait and see for the time being, and do not operate blindly.

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.