Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-10)

In the short term, it is relatively possible to hold a position in the empty market
1. Market Trends <br/>Today is November 10, 2016. The current price of Bitcoin is 4950. After Bitcoin broke through 4850 yesterday, the entire market tended to be bullish, and the price surged again, with the highest price approaching 5,000 yuan.
This is the third time this year that the price has rushed to 5,000 yuan. The first upward rush today was in mid-June. After the price 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 price to break through 5,000.
In the short term, the 1-hour trend is relatively weak, consolidating in the middle track of the Bollinger Bands. The 6-hour line is suppressed by the upper track of the Bollinger Bands, and four consecutive negative lines have been opened. There may be more profit-taking orders, and the short-term trend is bearish. 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 the statistics of 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 the price trend.