Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-19)

Patience is still needed for the sideways oscillation to continue
1. Market Trends <br/>Today is October 19, 2016. The current Bitcoin price is 4,325 yuan. As predicted by yesterday's analysis, the four-hour and six-hour lines are moving towards the death cross. Suddenly, it was pushed down to 4,280 at around 4 a.m. It is still oscillating near the death cross. Basically, all the price differences that were pushed down have been taken back by the bulls. If the price of the currency is sideways above 4,300, it is still relatively bullish and bargain hunting. If it is sideways below 4,300, it is necessary to reconsider the market dynamics.
The daily K-line has formed three small negative lines in a row, but still has not shown a big direction, hovering between 4300 and 4350. In a slow-rising market, be wary of a rapid decline, keep enough funds, and wait for the right price to increase positions. The 4300 to 4500 level is still a relatively high pressure position in the Bitcoin market. It has been accumulating strength for a whole week, and we are patiently waiting for the market to come.
Looking at the trading volume, the trading in the market has gradually become sluggish in the past few days. Looking at the data, the long-short index has no clear direction. The newcomer index is relatively favorable for long positions. 2. The long-short index looks at the recognition of the value of Bitcoin outside the market . The figure shows the long-short index with a period of 4 hours.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.