Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-05-31)

Is the price of the currency going to break through the 4,000 mark at once?

1. Market trend <br/>The current price of Bitcoin is 3740 yuan. Since 8 o'clock in the morning of May 27, the price of the currency has started a unilateral rise. After breaking through 3000 yuan, it went straight to 4000 yuan, with the maximum increase of 1000 yuan, close to 33%. It touched 3660 three times yesterday, and was quickly pulled back to above 3700. It should be noted that after the price of the currency rose, the price fluctuation range changed because the unit price was higher, from a few yuan a day to dozens of yuan a day. The high sideways trading and the rapid fluctuation of prices up and down indicate that the concentration of chips is high. There are currently fewer floating chips to be sold for profit, and the price is easily affected by individual big investors. The current price fluctuates between 3660 and 3780. It is suitable to short below 3660, with targets of 3560 and 3460. The K-line pattern is not good-looking, and it is not recommended to chase more at the current price. If the price of the currency continues to go up, no one knows how much it can go. The current market is still in an irrational state, and veterans generally choose to avoid it, or keep enough margin and bet on the size of the market with a small position.

2. The newcomer index looks at the amount of funds entering the market . Yesterday, Monday, the news that Bitcoin had risen sharply again was reported by various media at home and abroad. According to the data, the media reported on Bitcoin from 8 am to 5 pm yesterday. Because the news of the sharp rise in the price of the currency is a "one-time news", there is no need to do more follow-up after the report, so it is speculated that the newcomer level will gradually return to normal in the next few days.
Whether the entry funds are sufficient to support the current coin price of nearly 4,000 still requires continued observation of more data.

3. Sentiment Index: Market Reaction to Prices

Judging from the sentiment index, if the market continues to trade sideways for another two or three days, it will gradually adapt to the current price. Those who are long or short have already bought and sold, and those who are waiting and watching will continue to wait and see. After the sideways trading, there may be another large fluctuation.