Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-21)

The currency price may fluctuate greatly and may usher in consolidation
1. Market Trends <br/>Today is November 21, 2016. The current price of Bitcoin is 5,120 yuan. Last Friday's market analysis was titled "It takes time to consume the profit-taking", and the currency zone trend spent a lot of space to review the similarities and differences between the breakthrough of 3,000 yuan in June and the breakthrough of 5,000 this time. The similarities are that both broke through the integer barrier of the ascending triangle, and the difference is that before breaking through the 3,000 yuan barrier, the accumulation time was as long as half a year; after breaking through the 3,000 yuan barrier, the market continued to be bearish. Before breaking through 5,000 this time, the accumulation time was less than a month, but before and after the breakthrough, the market tended to be bullish. The previous analysis of the currency zone trend also mentioned that this time the breakthrough of 5,000 yuan, a large number of mid-line chips around 4,000 yuan, the gain reached more than 25%, the rational operation should be to temporarily sell the currency first and recover the principal, and it is not recommended to participate in short-term operations.
Let's discuss the volatility of Bitcoin again to clarify the risks of short-term Bitcoin trading. If calculated based on the opening price of 5,220 yuan last Friday morning, the price has adjusted back by about 2%. If calculated from the highest point of the coin price of 5,400 yuan, the price has adjusted back by about 5%. Coin Zone has done many statistics. The average daily fluctuation of Bitcoin prices exceeds 10% on one-tenth of the days, fluctuates between 5% and 10% on three-tenths of the days, and fluctuates around 3% on six-tenths of the days. According to this calculation, yesterday's decline was actually a small fluctuation on weekdays. Although it fell by three or four hundred yuan, the volume was large, and the total fluctuation range was within an acceptable range. This year, there were several days when the extreme situation amplitude and rise and fall range reached more than 15% at the same time. Friends who use leverage should always pay attention to risks.
Now let's analyze the current price trend. From a weekly perspective, the price of the currency has tripled since October 2015, when it broke through 1,500 yuan and the weekly K-line formed a golden cross. If the bull market starts from October 2015, it has lasted for a full year, accumulating a large amount of mid-term and long-term profit-taking. It is really difficult to make a conclusion about how the price of the currency will move in the medium and long term, and more data support observation is needed. There may be a need for a rebound and callback in the short term. 2. Price trend indicators
The "Bitcoin Price Trend Index" is an indicator similar to the "Long-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.