Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-07-06)

The K-line is bearish but not falling, and the currency price is relatively strong
1. Market trend <br/>The current price of Bitcoin is around 4,500 yuan. When the price was at 4,550 yesterday afternoon, the 1-hour K-line, 2-hour K-line, and 4-hour K-line all moved towards the dead cross position, showing a bearish state. In the evening, it fell to around 4,420, and then rebounded back to above 4,500. The price showed a certain elasticity, which also shows that the price is relatively strong to a certain extent. In recent days, the volatility has gradually decreased, from 7% volatility to about 3% volatility per day, indicating that the market is relatively balanced between long and short positions. When the volatility decreases further, we must always pay attention to the possibility of moving in a relatively large direction. Discussions like capacity expansion will continue endlessly, which will only have a very short-term impact on the price of the currency. When the output is halved, the selling pressure from miners will be reduced by half, and the computing power will most likely continue to rise. The Litecoin community released the Litecoin development roadmap and recruited new developers. Due to this positive influence, the price of Litecoin is relatively strong.
The current price of Bitcoin oscillates between 4450 and 4550, with short-term support at 4500 and 4450, and resistance at 4600 and 4750.
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 at the hourly level. From the data, the current long-short index is relatively bullish. A few days ago , it fell to 4550 and 4350, and there were many people who bought the bottom. Those who bought the bottom basically got out of the trap or even made a profit. After the price fluctuates, everyone should pay close attention to the changes in the long-short index in the next few hours. 3. The newcomer index looks at the relative amount of funds entering the market <br/>The figure shows the newcomer index calculated by the hour. Some time ago, because there were more newcomers in the past half month, the newcomers were at a low level for several days. Now the newcomer index has returned to normal, and the index is about 60.