Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-10)

Data tends to be bullish, so a medium-term position may be established
1. Market Trends <br/>Today is January 10, 2017. The current price of Bitcoin is 6,400 yuan. Yesterday morning, the price of the currency fell rapidly, reaching a low of 6,050, and then rebounded. Yesterday afternoon, the price of the currency suddenly rose, forming a positive line that crossed the moving average system upwards, and then reached the highest point of the day at 6,630 yuan.
Looking at the 2-hour chart, the moving average system (5, 10, 20) is becoming more and more cohesive, and the price of the currency fluctuates in a narrow range near the moving average, indicating that the short-term trend has clear signs. The Bollinger Bands at this level have narrowed, and the price of the currency is running on the middle track of the Bollinger Bands. If the price of the currency tends to the upper track of the Bollinger Bands and the MACD crosses the zero axis upward, then the short-term trend may be bullish, but it will be suppressed by the MA60.
Looking at the 6-hour chart, the price of the currency is suppressed by the middle track of the Bollinger Bands, and the moving average system (5, 10, 20) is still spreading out in a downward trend, indicating that the price of the currency at this level has little room for rebound. At present, the MACD at this level is showing a golden cross trend, but confirmation still needs to be observed. At the same time, the price of the currency fluctuates to the pressure line since the rebound on January 6 and is suppressed by it. If the MACD shows a golden cross and the price of the currency breaks through the above pressure line, then the price of the currency at this level will rebound to a certain extent.
From the big data of Coin Zone Trend, the price has dropped from nearly 9,000 yuan to now, and there are still many new entrants, which is several times the usual number every day. In addition, we learned from the relevant news in the past two days that "the number of registered users of Huobi.com in January 2017 is 10 times that of the same period last year", which is basically consistent with the newcomer index of our Coin Zone Trend. From the perspective of the long-short index, the price of the currency has risen since October 2016, when it was 4,000 yuan. Basically, the daily data tends to be bullish, but after the price of the currency jumped over 6,500 yuan, the entire market turned to the short side. The current price is a callback from 9,000 yuan, and the market is full of bottom-fishing sentiment. It can be imagined that many investors who were bearish at around 6,500 yuan during the rise have now turned to bullish. Operation suggestions: The currency price has fluctuated greatly recently, and it is not suitable for short-term operations. It may be a better choice to establish long positions at low prices in the medium and long term.


2. Long/Short Index