Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-21)

The price of the currency is relatively strong and the short-term trend is bullish

1. Market Trends <br/>Today is December 21, 2016. The current price of Bitcoin is 5,630 yuan. Yesterday, the price of Bitcoin fluctuated in a narrow range, mainly in a sideways trend, and closed with a cross star with very short upper and lower shadows. Like the previous two days, the price of Bitcoin closed with a small real body K-line at the same price level, accumulating power for the next trend.

Looking at the 2-hour and 4-hour charts, the price of the currency has been fluctuating in a range of 5587 yuan on the upper side and 5548 yuan on the lower side since December 7. In the 2-hour chart, the K-line and the moving average system are oscillating in a cohesive manner, and in the 4-hour chart, the K-line runs parallel until it is supported by the 30-period moving average. In the early hours of yesterday morning, the two-period K-line has gone out of the oscillation period, showing a bullish trend.

In the daily chart, starting from this morning, the coin price ended the sideways state of the previous few days and began to rush upward, breaking through the pressure line of the ascending triangle. After the coin price broke through 5,000 yuan, the profit-taking increased, and the dealers shook back and forth to wash the chips. Undecided or risk-averse investors have been shaken out. Looking at the Bollinger Bands, the coin price has been too strong in the past two months, and the bottom of the downward adjustment is above the middle track. After closing with a very small cross star yesterday, the coin price hit the upper track of the Bollinger Bands this morning, and the short-term upward trend has become clearer.

Looking at the weekly chart, the price of the currency has been running close to the upper track of the Bollinger Band. There is still 100 points of space to touch the upper track of the Bollinger Band. It is very likely that the price of the currency will fill this space this week. Therefore, for short-term investors, it may be possible to go long, but still need to be cautious because the trading volume is still too small. If the dealer completes the wash and the trading volume shrinks, it will start a new round of upward trend. On the contrary, it is a behavior of inducing more. According to the current market environment, the former is more likely.


From the data observation, the only thing that can be said is that in the past two months, the number of newcomers has been two to three times that of before October. This is a contest between off-market funds and on-market chips. After rising for such a long time, everyone is looking forward to two things. The first is a wave of rapid and rapid correction to get profit-taking out and let the wait-and-see funds enter the market; the second is a wave of rapid pull-ups, showing the characteristics of a bull market and attracting more people to pay attention to the Bitcoin market. At present, it is still not recommended to short, half-position holding coins, and half-position holding cash. 2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" based on the statistics of 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 the price trend.