Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-02)

Data tends to be bullish, try to buy at the bottom
1. Market Trends <br/>Today is December 2, 2016. The current price of Bitcoin is 5,350 yuan. As expected, the price of the currency has chosen to go up again, 100 yuan higher than yesterday, an increase of about 2%.
Recently, we have analyzed the price of Bitcoin from different perspectives. Now let’s review the previous analysis:
On November 28, the price was 5,140 yuan. "The long and short index of the currency zone is still biased towards the bullish side. We recalculated the number of newcomers and found that after the National Day in early October, the number of newcomers entering the market every day was two to three times that before October, and it has continued until now. It is recommended to take one-third of the position for long-term long positions."
On November 29, the price was 5,165 yuan. "Some netizens reported that the search volume of the keyword "Bitcoin" in Baidu search index is about twice the average level, which is well confirmed by the newcomer index of the currency zone. Putting aside the technical form of the K-line and looking at the big data alone, it is currently bullish."
On November 30, the price was 5,150 yuan. "The perennial topic of whether and how the Bitcoin blockchain should be expanded has once again become a hot topic. The current discussion has not led to further price fluctuations. It is completely groundless to worry that altcoins will replace Bitcoin."
On December 1, the price was 5,240 yuan. The suggestion is that "the price difference between the domestic and foreign markets has reached about 20 US dollars, and the domestic price has pulled the foreign price up. We will pay more attention to the domestic trading volume rather than the foreign trading volume (the potential meaning is that the conclusion of the weekly double top may not be established). At present, the operation should be mainly to buy at low prices, and try to buy at low prices in the medium term."
As mentioned above, we have recently analyzed the current price of the currency from the aspects of K-line technical patterns, big data indicators such as the newcomer index long and short index of the currency zone, emotions caused by internal debates in the Bitcoin community, price differences between domestic and foreign trading platforms, and external auxiliary data, and the conclusions we reached are all relatively bullish.
The price has reached the current position, above 5,000 points, and the consolidation time above 5,000 points is longer than the consolidation time during the big rise in 2013. What needs to be done now is to partially stop profit and partially hold long positions in anticipation of a greater increase in Bitcoin in the future. In 2013, Bitcoin had two relatively large increases, which added up to nearly 100 times.

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.