Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-30)

The price of the currency is cautiously tested, and 7,000 is still a strong pressure
1. Market Trends <br/>Today is December 30, 2016. The current price of Bitcoin is 6922 yuan. Yesterday morning, the price of Bitcoin rebounded strongly, and a bullish water lotus pattern appeared in the 1-hour chart, and the rebound reached 7000 points. After that, the price of Bitcoin entered a weak and volatile pattern. At present, the fluctuation range of the price of Bitcoin has gradually narrowed in the past two days, indicating that the market is choosing a direction. 7000 points is still a strong pressure, but the possibility of an upward breakthrough cannot be ruled out.
Looking at the 1-hour chart, the price of the currency fell below the 20-day moving average to the 60-day moving average in the early morning of today and was effectively supported by it. The moving average system (5, 10, 20, 60) showed a sticking trend, indicating that the rise at this level is limited. However, it should be noted that the K-line at this level oscillates out a smaller round bottom pattern. If the MACD has a golden cross and the currency price breaks through the pressure line of 6960, then there may be a large increase. Looking at the 6-hour chart, the moving average system (5, 10, 20, 60) is still in a long arrangement pattern, and the 5-day moving average and the 10-day moving average begin to stick together. At the same time, the area of ​​the green energy column of MACD continues to shrink, and the KDJ and RSI hovering areas shrink, indicating that the market is looking for a direction.
The price of the currency has tested 7000 points many times, but was quickly suppressed and hovered above 6910 for more than 50 hours. At present, the price of the currency still maintains a bullish trend, but as analyzed yesterday, the ability to rise this time is significantly weaker than the previous time. For short-term investors, you can try to sell high and close low between the 5-day moving average of the daily chart and 7000 points, but pay attention to follow up when it breaks through. Long-term investors should wait patiently for the trend to become clear.

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.