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

The price of the currency may continue to strengthen after a slight adjustment
1. Market Trends <br/>Today is November 11, 2016. The current price of Bitcoin is 4925. Yesterday's price was basically consistent with the prediction of "short-term relatively bearish", and the price once dropped to the support position of the last time the price broke through the ascending triangle and the middle track of the four-hour Bollinger band of 4850 yuan; "medium-term positions may be held", and this morning the price rebounded to above 4920 where it fell yesterday, and rose to below the upper track of the 1-hour Bollinger band, and the trend is still strong.
Looking at the daily chart, after five consecutive positive lines, a negative line was closed yesterday, breaking everyone's doubts. The negative line closed yesterday made appropriate consolidation, dispelling the market's excessive rise and the fear of a big correction, which is equivalent to the rising transit line. The weekly chart is also running close to the upper track of the Bollinger Band. At present, the probability of forming a big double top is not high compared with the first breakthrough of 5,000 in June.
This is the third time this year that the price has rushed to 5,000 yuan. The first time was in mid-June this year. After the price of the currency broke through 4,000 yuan, it rose by 1,000 yuan in 6 days at a rate of nearly 200 yuan per day, approaching 5,000 yuan. The second time was from 4,300 yuan on October 21, and it rose to 5,000 yuan at a rate of 70 to 80 yuan per day. The third time it approached 5,000 yuan was the rebound after the second decline. Starting from 4,500 yuan, it rose for 6 consecutive days, and the daily increase was also 70 to 80 yuan. The rise is relatively stable, and there has been no very large increase. Looking at relevant foreign platforms, compared with the second rise to 5,000 yuan, the trading volume of this rise has been enlarged. The medium-term may continue to hold the currency and wait for the currency price to break through 5,000.
Looking at the data, the long-short index is still biased towards the long side, and the newcomer index has fallen back, but it is still at a relatively high level. 2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long-short index" compiled 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.