Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-05)

The market is maturing and new entrants are increasing
1. Market Trends <br/>Today is November 15, 2016. The current price of Bitcoin is 4870 yuan. Yesterday, the battle between the long and short sides was fierce. Yesterday afternoon, it once reached 4870 yuan. After more than an hour of sideways movement, it was suppressed back. In the early morning of this morning, it was even suppressed to the support level of 4820 yuan. At 3 o'clock in the middle of the night, the price of the currency began to rise. At 6 o'clock in the morning, the price of the currency once again forced the integer of 4900 yuan.
Looking at the weekly chart, the current price has been above 4,600 yuan for four weeks. Looking back at the period when the price of Bitcoin rose at the end of 2013, the price of the currency was above 4,600 yuan for nearly two months, but the price was very unstable at that time, with sharp rises and falls every day. The current price of the currency is above 4,600, which is much more stable, and the entire market is also becoming mature and stable.
Yesterday, the daily line's double top pattern was destroyed, and the market buying was strong. Looking at the 12-hour line, it is currently showing a converging triangle pattern. Conservative investors can wait for the price to stabilize before entering the market, and aggressive investors can also try to gradually build positions. Looking at the data, the 24-hour long-short index has been bullish for two consecutive weeks. Yesterday at noon, CCTV reported news related to Bitcoin. After the report came out, the reaction of the newcomer index was quite obvious.
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.