Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-12)

The central bank’s entry into the platform may usher in supervision
1. Market Trends <br/>Today is January 12, 2017. The current price of Bitcoin is 5,294 yuan. After the opening yesterday, the price of the currency was generally in a slow upward trend, reaching an intraday high of 6,490 yuan at 1 p.m. After that, the price of the currency fell sharply, once reaching 5,160 yuan.
Looking at the daily chart, the moving average system (5, 10, 20) shows a strong short arrangement, and the area of ​​the red column representing the short energy is still expanding, indicating that the price of the currency at this level has limited room for growth. However, as the price of the currency drops sharply, away from the moving average system, and the relative strength index and stochastic indicator move to the oversold zone, the possibility of a rebound cannot be ruled out.
Looking at the 6-hour chart, after the coin price broke through the upper track of the Bollinger Band yesterday morning, it was suppressed by the upper track and has now fallen below the lower track of the Bollinger Band at this level. MACD has a dead cross below the zero axis, and the area of ​​the red column is still expanding, indicating that there is still room for adjustment at this level. Looking at the 2-hour chart, after several days of adjustment, the moving average system (5, 10, 20) at this level fluctuated out of an upward trend yesterday morning, but it has already failed. At present, the moving average system has significantly hashed downward, and the strength and weakness indicators and stochastic indicators have not shown signs of moving out of the oversold zone, so there is insufficient room for the coin price at this level to go up.
After three days of weak fluctuations, the price of the currency fell sharply yesterday, indicating that the rebound momentum is insufficient and bulls are cautious in advancing. Investors should build positions carefully and arrange their positions reasonably.
From the news perspective, there was a big news yesterday. The central bank entered the three major domestic trading platforms to check the relevant business of the trading platforms and the implementation of the anti-money laundering system. According to the China Securities Journal, "the regulatory authorities will continue to meet with industry insiders in the near future to discuss the establishment of a third-party Bitcoin custody platform to ensure the safety of Bitcoin transactions." Since 2013, many Bitcoin investors have repeatedly called on the country to supervise and manage Bitcoin trading platforms and give Bitcoin trading platforms a clear legal status. Now, as the Bitcoin trading market continues to expand and its influence continues to expand, it may usher in government supervision to make the Bitcoin trading market more legal and compliant, which is not only conducive to the long-term operation of the platform, but also conducive to the majority of investors protecting their property.

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.