Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-08)

The wait-and-see sentiment is strong and the price of the currency is sideways
1. Market Trends <br/>Today is December 8, 2016. The current price of Bitcoin is 5310 yuan. Yesterday's price trend was basically consistent with the predictions in our analysis article, oscillating in the large range of 5250 to 5350. It has not yet moved out of this range and has returned to the middle of the oscillation range. Looking at the trading volume of various trading platforms, there is a trend of shrinking, and the market is in a wait-and-see mood.
Again, the continuous weekly gains have accumulated a lot of profit-taking, which needs time to digest. The best result is that the weekly line will trade sideways above 5,000, consolidate for a period of time, and then choose a new direction.
According to the current daily K line, in the past two days, two cross stars have appeared in succession, stuck above the 7-period moving average. At this time, you should pay more attention to the market, which may break through or go up. If it consolidates below the 7-day moving average, the market tends to be short.
Observing the 12-hour K-line, since the three rises at the end of October, the rise has been smaller each time, and a certain degree of divergence has occurred. At present, the mid-line long position should be more cautious. The 30-period support of the 12-hour EMA is at 5250. If it falls below, the overall market will be bearish.
The price difference between domestic and foreign markets has also shrunk from more than 20 US dollars to the current less than 10 US dollars, with domestic platforms at 5300 and foreign platforms at 5250. 2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" calculated by the currency zone 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.