Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-04)

Narrow fluctuations in the price of the currency may delay the rise
1. Market Trends <br/>Today is January 4, 2017. The current price of Bitcoin is 7450 yuan. Yesterday, the price of the currency rose slowly after the opening, reaching the intraday high of more than 7500 at 11 am, and then entered a volatile downward trend, and received effective support at MA20 in the 2-picture chart. Yesterday, the price of the currency rose and fell by a limited range, and the maximum fluctuation throughout the day was only about 0.5%.
Looking at the 6-hour chart, the moving average system (5, 10, 20) is still in a bullish trend, the price of the currency is between the middle and upper tracks of the Bollinger Band, and has broken through MA10. It is expected that the price of the currency will likely touch the upper track of the Bollinger Band at this level. The stochastic indicator and the strength index both form a golden cross, and the area of ​​the MACD green energy column begins to reverse and shrink, indicating that there will be a wave of increases at this level, and the pressure line is located near the upper track of the Bollinger Band at this level, 7600.
Looking at the 1-hour chart, at 7 a.m. this morning, a big positive line crossed the moving average system (5, 10, 20), and a bullish lotus out of water pattern was formed, showing a strong upward trend. The MACD at this level formed a golden cross, and the MACD energy column on the short side changed from red to the long side of the green energy column. At the same time, the Bollinger band at this level opened again after contraction, and the coin price has broken through the upper track of the Bollinger band. It is expected that the price of this extreme currency will rise further.
At present, the upward trend of the currency price has not changed, and the bulls still have the upper hand. You should control your position and buy on dips. Before the trend changes fundamentally, it is not recommended to open a short order to sell short.

2. Newcomer Index <br/>Through the Newcomer Index of Coin Zone, we can find that in the past three days, the number of people entering the Bitcoin investment market has reached another level. If before October, there were 20 people entering the Bitcoin investment market every day, and after October, there were about 50 people, then in the past three days, the number of people entering the Bitcoin market every day has exceeded 100.