Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-06)

Buy on dips in the medium term, buy low and sell high in the short term
1. Market trend <br/>The current price of Bitcoin is 4080 yuan. Yesterday, it returned to a state of small fluctuations and sideways trading. The price fluctuated between 4050 and 4100. The market is still relatively quiet and lacks vitality. The price reached a high of around 4150 in the past two days. From a technical point of view, the upper pressure is mainly concentrated in the 4300 to 4500 line, while 3700 to 3900 formed a relatively good mid-line support. From a larger range, the price may oscillate in the range of 3900 to 4300, gradually digesting the upper locked-in orders and the negative impact of Bitfinex in this range. There is no good or bad news on the news.
From the data, when the market adjusted back to 4050 yesterday, it was relatively bullish, but still relatively quiet. The reaction of the newcomer index is not very obvious. It has been below 60 in the past month. More newcomers and funds are still needed to maintain the current price. The possibility of a sharp rise in the short term is not very high, but it is a good opportunity to intervene in the medium term. September and October are the golden months, and there may be another wave of impressive market conditions in October or November. In the short term, volatility will gradually improve, and it is a good time to buy low and sell high. 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 per hour.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.