Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-06-29)

The market is divided, and the price of the currency fluctuates widely

1. Market Trends <br/>The current price of Bitcoin is 4,300 yuan. Judging from various data, there are many people participating in the current market, and the price volatility is relatively strong, so the price has a certain support capacity. The good news is that @新浪科技 on Weibo forwarded the news that "virtual property such as Q coins and Bitcoin will be officially protected by law". I remember that @新浪科技 forwarded a lot of news related to Bitcoin, which is considered to be support for new things. Of course, this may also be a bullish move, and we should pay more attention to changes in the market. It is only about 10 days before the Bitcoin halving. It is recommended to hold more Bitcoin and wait patiently for the arrival of the market.
4400 is still the dividing line between long and short in the short term, and the price fluctuates between 4200 and 4400. It is recommended to wait and see and wait for a breakthrough before making any moves. The short-term support is 4200 and 4000, and the upper pressure is 4450 and 4550.
2. The long-short index shows the recognition of the value of Bitcoin by the OTC market

The chart is the hourly long and short index. Combining the price and data, the current market divergence is large. When the price goes down, everyone buys the bottom and is bullish. When the price goes up, more people are bearish. The price of the currency also fluctuates freely according to market opinions.

3. The Newcomer Index looks at the market’s reaction to prices

The chart shows the newcomer index calculated on a daily basis. As shown in the chart, there are relatively few newcomers entering the market in the past two or three days. It is estimated that the number of newcomers entering the market will return to normal in a few days. The data clearly shows that the price of 3,000 to 4,000 is more likely to be pushed up by strong dealers. More newcomers are entering the market above 4,000, and the newcomers' takeover causes the price to continue to rise to 5,000. The cost of entering the market for newcomers is mostly above 4,000. If you can get coins below 4,000 in the mid-term, it is a relatively good price.