Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-04-20)

1. Price Trends
The price trend is still similar to our analysis. After breaking through the resistance of 2820, the price rushed directly to 2850. It was blocked again at the resistance of 2850 and is now adjusted back to 2835. The current price is suitable for short-term waiting. The daily K-line has formed an ascending triangle pattern, and the lows are constantly rising. Looking at the weekly K-line, this week's weekly K-line has stood above the 7-period moving average. The next relatively large resistance is around 2930. There are not many major negative news or other surprises. It may still go up slowly. The current price of Bitcoin is gradually accepted by everyone.
2. The newcomer index looks at the amount of funds entering the market
The average number of newcomers to the market rose last week, and this week the number of newcomers seems to have returned to normal. The amount of funds brought by the recent newcomers may be enough to maintain the current price of the currency.

3. The long-short index looks at the market's recognition of the currency price
Recently, the long-short index has changed from a large-scale one-sided bearish to a slightly bearish situation. The small increase in the past few days may be due to the buying of funds in the market. Perhaps after a while, the market will slowly turn to bullish.

The above data is updated in real time, and the chart was updated at 09:00 on April 20. We will continue to observe how the data will develop in the future.
PS: Cryptocurrency investment is particularly risky, including but not limited to large coin hoarders dumping their coins, dealers manipulating the price of coins, and systemic risks of cryptocurrencies themselves. This article is for reference only. The market changes 24 hours a day, and the description in this article also has certain time limits and limitations. Investors are responsible for their own investments, and the author of this article or related websites are not responsible for the specific investments of investors.
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