Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-29)

Where will the trend of the coin price continue to reach new highs?
1. Market Trends <br/>Today is December 29, 2016. The current price of Bitcoin is 6950 yuan. Yesterday morning, the price once fell to the 15-minute 60MA and was effectively supported by it, and then the price rose sharply. At 10 o'clock last night, the price hit a new intraday high of 6955 yuan, and then fell by about 200 points. Therefore, the market closed with a positive line with a long upper shadow and a small body in the daily chart.
In the 2-hour chart, the price of the currency has been lowered to the 60-day moving average twice, increasing its support effectiveness. MACD has a dead cross at a high level, and the area of ​​the red bar chart representing the short energy column continues to increase, and the trading volume is significantly smaller than the previous wave, indicating that the current level of the rise may be limited. In the 6-hour chart, the moving average system (5, 10, 20) is still bullish, but the area of ​​the green bar chart representing the bullish energy column is significantly smaller than the area of ​​the previous wave of rise (December 21 to 24), and the trading volume is also smaller than the previous wave. A callback is a high probability event, and the depth of the callback may be deeper than that of December 25.
This morning, the price of the coin broke through 7,000 yuan, reaching a high of 7,000 yuan. The bulls still control the market trend. As the market rises, risks are also accumulating, and there are more and more signs of short-term downward adjustments. Short-term investors can pay attention to the 2-hour 60-day moving average, and reduce their positions if the price falls below it. Long-term investors can pay attention to the 5-day moving average of the daily chart. As long as it falls below the 5-day moving average of the daily chart, they can hold it. In order to avoid financial risks and better protect the profits that have been obtained, if the price of the coin breaks the 5-day moving average of the daily chart, you should reduce your position.
In recent market analysis, we mainly focus on risk warning, because the price has indeed reached a relatively high position, but it does not mean that the price will not continue to rise to another higher level. The 100-fold market of 80 yuan at the beginning of 2013 and 8,000 yuan at the end of the year is still vivid in our minds, so we warn of risks and dare not be overly bullish, but it does not mean that it is suitable to short, and we should appropriately reduce positions and wait and see.

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.