Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-08-29)

The price of the currency continues to fluctuate slightly and go sideways
1. Market trend <br/>The current price of Bitcoin is 3,850 yuan. On Saturday night, the price once fell to around 3,760 yuan, but has now rebounded. After a month of sideways fluctuations, the market has become even quieter. The biggest news recently is that the exploration engine Baidu has removed commercial advertisements with Bitcoin keywords, which is bearish, but it does not seem to have any impact on the price. Although the price of the currency is sideways, the number of transactions on the Bitcoin blockchain is still full every day, indicating that there is still a certain hard demand for Bitcoin.
In the short term, the daily K-line has a trend of moving upwards and forming a golden cross. If there is a significant increase, it may rise back to above 3900. In the short term, you can hold the currency appropriately and go long. If it falls below 3800, consider stop loss. From the data, when it was sideways around 3800 yesterday, the market was more likely to buy the bottom and look long, indicating that the 3800 line still has certain support. The newcomer index has fallen to the bottom and gradually accumulated more investors, but overall it is still a game of funds in the market. In the medium term, wait for it to fall below 3750 or rise above 3900 before operating.
2. The long-short index shows the off-market recognition of the value of Bitcoin . The figure shows the long-short index at the hourly level.
3. The newcomer index looks at the relative amount of entry funds . The figure shows the newcomer index calculated on a daily basis.