Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-06-7)

Seven consecutive positive days, another slow rise and sharp fall?

1. Market trend <br/>The current Bitcoin price is 3910 yuan. Yesterday morning, it broke through the upper resistance of 3880 from 3810 and reached 3920. After a slight correction and sideways consolidation, the price rushed up again this morning. The weekly K-line has stood on the upper track of the Bollinger Band. The daily K-line has opened seven positive lines in a row. It feels like a slow rise when it is below 3000. The only difference is that the pressure above 4000 may not be as great as around 3000, but it is difficult to judge whether it can break through 4000 and stand firm.
Long-term positions should continue to be held. For the mid-term, when the price of the currency first rose to nearly 4,000 yuan and then fell back to 3,500 yuan, the analysis allowed everyone to hold one-third of the positions to go long; when the price of the currency was sideways at around 3,800 yuan, the analysis allowed one-third of the positions to go long. At the current price, those who are long in the mid-term should gradually reduce their positions to protect their profits. Short-term operations are like licking blood on the edge of a knife, so you should keep an eye on the market.

2. Newcomer Index to see the amount of funds entering the market <br/>The chart shows the daily newcomer index. Yesterday, Monday, the newcomer index had recovered to a value slightly higher than the average level, reaching 67. The sudden increase in newcomers entering the market last week did bring a lot of funds to the market.

3. The long-short index shows the market's recognition of the price . The chart shows the long-short index calculated on an hourly basis. From the chart, we can see that the market's view on the price has gradually changed from being mostly bearish to being mixed with long and short in recent times. This is the best example of "three positive lines changing beliefs".