Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-07-05)

Expansion controversy, halving only four days left
1. Market trend <br/>The current price of Bitcoin is around 4580 yuan. After hitting the bottom of 4320 yesterday morning, it rebounded directly to the first resistance level of 4450, and rose again to the resistance level of 4550 in the evening. In the past month, the average daily volatility of the currency price has been more than 7% (about 300 yuan per day), which means that a daily increase or decrease of 7% is normal fluctuation. Please pay attention to the risks, do not open large positions, and make stop-profit and stop-loss in time. Any small change in the Bitcoin system will lead to increased or damaged interests of different people. It can be foreseen that discussions like expansion will continue endlessly, and these discussions will only affect the currency price in the very short term. As for the halving of Bitcoin, we know that the selling pressure from miners will be reduced by half, and the computing power will most likely continue to rise.
I hope that friends who are doing short-term trading can learn more about the basic concepts related to digital currency and the basic knowledge related to K-line technical analysis.
The current price oscillates in the range of 4550 to 4650, with short-term support at 4450 and 4320, and resistance at 4650 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. According to the data, the price fell to 4550 and 4350 in the past two days . There were many people who bought the bottom, and 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 on an hourly basis. Yesterday, the newcomer index returned to normal levels, reaching 59, slightly higher than the average in the first half of this year.