Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-06-3)

Reinterpretation of the surge in coin prices

1. Market trend <br/>The current price of Bitcoin is 3,600 yuan, and it continues to fluctuate greatly, oscillating between the support level of 3,540 and the resistance level of 3,630. Faced with this kind of sideways oscillation and large fluctuations, friends who have no short-term experience should wait and see, while for short-term experts, buying high and selling low is the best opportunity to make money.
According to the official group members of Biqushi, this round of price increase is caused by a certain organization (unconfirmed, anonymous to avoid suspicion) that concentrated on buying a large number of Bitcoins. They started accepting Bitcoins about half a year ago, but recently they exchanged all the legal tender of their customers into Bitcoins at one time. This centralized exchange has raised the price of Bitcoin to another level, and the time when the exchange stopped and the price increase stopped is basically the same. These exchanged Bitcoins are unlikely to be dumped into the market at one time, and it is more likely to be cashed out slowly.
Although there are many uncertainties in the future market, the overall selling pressure in the market will be much less as the halving approaches. In the medium term, you can still hold the currency at the current price and go long, waiting for the halving to come. In the short term, open short if it falls below the support of 3540, and open long if it breaks above the resistance of 3630.


2. The Newcomer Index looks at the amount of funds entering the market <br/>The chart shows the Newcomer Index at the 2-hour level. The Newcomer Index started to react at 22:00 last night and was relatively high.

3. The long and short index looks at the market's recognition of the price <br/>The figure shows the long and short index at the 1-hour level. "If one positive line can't change the belief, then three positive lines will do", this is the case in the currency circle. Before, it was completely bearish, but after three positive lines came out, many bearish people turned bullish.