Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-05-3)

1. Price Trends
Throughout the holiday, the price has been consolidating around 2900. Yesterday afternoon, the price returned to the support level of 2860. Two things pushed the price down: 1) The suspected appearance of Bitcoin founder Satoshi Nakamoto; 2) The code submission permission of Bitcoin core developer Gavin was closed. The news that the Bitcoin founder was discovered in early 2014 also pushed the price down. The 30-day moving average is around 2820, and the lower track of the Boolean channel is at 2740. 2850 is still the short-term long-short split point. The mid-line position is appropriate to increase positions at a low level, and short-term wait-and-see.

2. The newcomer index level suddenly increased
The chart shows the hourly newcomer index. It can be clearly seen that during the three-day holiday, many people went out to play, and the newcomer index level was low. Yesterday afternoon, all major media forwarded the news that "Bitcoin founder Satoshi Nakamoto is suspected to have appeared", and the newcomer index immediately had a very obvious reaction. It is expected that the number of newcomers entering the market will be relatively large in the next two or three days.

3. The strength of the short side of the long-short index has weakened
The following figure shows the hourly long and short index. Throughout the holiday, the long and short index tended to be bullish. The price dropped twice and was quickly pulled back to around 2900. Yesterday afternoon, Gavin's code submission permission was moved, which caused some panic.