Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-15)

The trend of long and short tug-of-war is unclear
1. Market Trends <br/>Today is December 15, 2016. The current price of Bitcoin is 5442 yuan. Yesterday, the price of Bitcoin closed with a small negative line. After being suppressed by the short side in the morning, the long side pulled it up, and then was hit again. So far, the long side is recovering the lost ground of yesterday. Although the fluctuation is not large, it is more like a back and forth oscillation, but it shows that the long and short sides are constantly testing each other's strength and bottom line.
In the daily chart, a small negative line appears after the high-footed cross star, and the market's short-term weakness has increased to a certain extent, while the stochastic index and the strength index are converging in the hovering zone, and the trend is unclear. At present, the price of the currency is supported by the 7-day moving average in the daily chart, but as analyzed the day before yesterday, the moving averages of each period tend to be stalemate. The distance between the 7-day moving average and the 14-day moving average is narrowing, jointly supporting the price of the currency.
The price of the currency has been fluctuating for almost half a month at the flat top support level on November 17, 18, and 19 and the flat top pressure level on December 2 and 3, showing a trend of straight-line movement, and has fallen below the triangle support level and is in a rebound. In recent days, if it fails to break through the pressure level transformed from the triangle support line, the possibility of a new round of market outbreak is small.
According to the Fibonacci retracement line, the price of the currency is supported at 5320 and suppressed by 5480. This support and resistance level is also the flat top support and flat top resistance level mentioned above, as well as the support and resistance level where the ascending triangle and the Fibonacci retracement line intersect, so the validity is relatively high. At present, the price of the currency is running back and forth between them, and the trend is unclear.
Before the announcement of the US interest rate hike last night, the market had a process of falling. After the announcement of the interest rate hike in the middle of the night, the price of the currency was pulled back. The news of the US interest rate hike is neither good nor bad. It is something that is likely to happen. Many markets other than Bitcoin have already reflected the impact of the US interest rate hike in advance. At present, the newcomer index and long-short index of the currency zone trend big data show that the market is still optimistic. The only uncertainty is that there are many profit-taking orders at present, and the K-line pattern is not very good. The market is changing rapidly. Before the direction is clear, you need to be cautious when opening a position.

Bitcoin price daily chart
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.