Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-07-11)

Halving smoothly transitioned, computing power slightly increased
1. Market Trends <br/>The current price of Bitcoin is 4350 yuan. Last Saturday, before the halving, the price suddenly dropped from 4450 to 4150, with the maximum drop of nearly 7%. This is a very obvious "malicious dumping" event. The big players hope to dump the market at the moment of halving to cause panic in the market and bring more selling. However, it failed to do so. The price rebounded to around 4350 the next morning.
At the end of last month, we said that the volatility in June was too large, and the market was full of internal friction. The next big market may take two or three months at the earliest. The halving is a long-term positive, and mid-term friends do not need to pay too much attention to the price fluctuations of a few days. The Bitcoin halving on the weekend was a smooth transition. Before the halving, many people had been worried that the computing power would suddenly drop by 50% or more. According to our news, the worry is completely unnecessary. Half a month ago, we reminded that there is no need to worry about the sudden drop in computing power after the halving. The computing power will even increase significantly after the halving.
Many new investors do not know how to choose the time to open a position. In fact, the best standard is: open a position when the price breaks through. There are two types of price breakthroughs: A. Breaking through resistance or moving average golden cross to go long; B. Breaking through support or moving average dead cross to go short. When the price of the currency breaks through for the first time, we can choose to wait and see whether the price can stay horizontal at the breakthrough position or whether the price of the currency moves one step further in the direction of the breakthrough. If the price breaks through again after a period of time, then you can prepare to open a position. It is a better operating habit to open an order only when the price breaks through. Set the price alarm, there is no need to watch the market all the time. Most of the time, trading is patiently waiting, and only opening a position when you are sure. When you are hesitant, just wait and see.
Short-term support is 4320 and 4260, and resistance is 4380 and 4450. 2. The long-short index shows the recognition of the value of Bitcoin by the market <br/>The figure shows the long-short index at the hourly level. From the data, we can see that the market has been filled with a deep short-selling sentiment since the morning of Saturday, July 9, and the short-selling sentiment did not change until 18:00 yesterday afternoon. 3. The newcomer index shows the relative amount of funds entering the market <br/>The figure shows the newcomer index calculated by hour. In recent days, the newcomer index is close to 60, and it was also close to 60 yesterday weekend. Although it is higher than the usual weekend value, it is not much higher. The halving of Bitcoin production has only attracted little attention from the outside world.