Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-03)

Strong buying by newcomers drives the price of coins higher
1. Market Trends <br/>Today is November 3, 2016. The current price of Bitcoin is 5080. The price did not take more time to adjust as expected, but after a wave of decline, it was pulled up again, showing strong buying. Yesterday, the price of Bitcoin fell from 5000 to around 4900 yuan, and then began to fluctuate sideways, and began to rise in the middle of the night.
The daily K-line is still suppressed by the upper track of the coin forest line. The weekly K-line is above 5000, which is just above the upper track of the Bollinger band, and has entered the long market in the short term. From the weekly line, it has been rising for six consecutive weeks, starting from around 4000 yuan, with an average increase of about 4% per week. The weekly line is relatively mild in this currency price rise, but the market uncertainty is relatively large. At present, it is still necessary to be cautious in short-term long positions. Take quick entry and exit operations. If the direction is wrong, stop loss in time to avoid expanding losses. When the direction is correct, slightly extend the holding time to obtain maximum benefits. If 5000 points stands firm, it is expected to become a bottom of a new height. The current operation should be based on long-term holding of coins, waiting for the coin price to reach another height, and wait patiently to see how long it will take to break through 8000 points in 2013.
According to the data, since 20:00 yesterday (coin price around 4970), the 4-hour long-short index has turned to the long side, and the sentiment of bottom-fishing has become strong, and a wave of pull-ups has been ushered in in the early trading. During the National Day holiday, the index of newcomers once fell to the same low level as during the Spring Festival, but after the National Day, the index of newcomers broke through and rose to a higher level, and it has been maintained for almost a month. With the bullish sentiment of the market, the coin price has been rising steadily. 2. The long-short index looks at the recognition of the value of Bitcoin by the OTC market <br/>The figure shows the long-short index with a period of 4 hours.
3. Newcomer Index to see the relative amount of entry funds <br/>The figure shows the Newcomer Index with a period of 24 hours.