Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-11)

The amplitude continues to shrink and the midline direction may be out
1. Market Trends <br/>Today is January 11, 2017. The current price of Bitcoin is 6350 yuan. After opening yesterday, the price of the currency went up and reached the highest point of the day at 6450 at 9 am, and then quickly fell. At 6 pm, the price of the currency tested the high point of the day again, but was quickly beaten back by the shorts. Therefore, yesterday's daily K closed with a small cross star.
Looking at the daily chart, since January 7, the price fluctuations have been shrinking, until yesterday a small cross star without a body was closed, indicating that the long and short sides have temporarily entered a state of parity. After the price of this level breaks through MA5, it may be under pressure around 6650, which is also near MA20 and the middle track of the Bollinger Band.
Looking at the 6-hour chart, the moving average system (5, 10, 20) has entered a stalemate state, MA20 is still on a downward trend, and the green column chart of MACD shows a slight amplification trend. It may be bullish in the short term, but the upward momentum is insufficient.
Looking at the 2-hour chart, the moving average system (5, 10, 20) has shown a bullish arrangement after 3 days of adhesion and oscillation, and MACD has the tendency to cross the zero axis. It is expected that this level will have a certain upside space in the short term.
After a sharp drop, the price of the currency quickly entered a continuous narrow range, and the long and short sides briefly entered a state of parity. It is not advisable to participate in the short-term, and investors are advised to wait patiently.
From the perspective of the currency zone data, the long-short index tends to be bullish in the past few days of sideways trading around 6,300, but the market depth is small and the volatility is relatively large. The newcomer index has decreased as the media heat has decreased, but it is still much higher than usual.

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.