Evening Market Report August 17
BTC is Showing a smaller oscillation during the day, with strong support in 45,000.
According to data from Huobi Global, BTC is currently fluctuating at a low level, with strong support near 45,000. Looking at the four-hour level, The k-line penetrated EMA5, EMA10, and EMA20 intraday, with all 3 EMAs trending downward. The k-line approached the lower track of the Bollinger Band within the day, and the opening size of the Bollinger Band did not change significantly, showing a parallel downward trend. The trading volume is relatively sluggish. DIF is always below DEA during the day, and both are down. CCI rebounded after hitting the -100 line and is currently in the normal range. The market may decline slightly and then stop falling. In terms of daily level, the current k-line is a short-yang line, and the lower shadow line is closed. The price range is basically the same as yesterday, and there is strong support below it. We will pay attention to whether the subsequent decline can be stopped. When the price breaks 46600, you can consider buying and set the stop loss at 45500.
According to data from Huobi Global, ETH is currently oscillating around the 3200 line after the intraday decline, which is similar to the trend of BTC, and there is strong support at the 3100 line below. Looking at the four-hour level, the candlestick line is below EMA5, EMA10, and EMA20 on a daily basis, and there is a tendency to cross EMA20 at night. The K-line runs between the lower rail and the middle rail of the Bollinger Band, and gradually approaches the middle rail of the Bollinger Band. The opening size of the Bollinger Band has no obvious change, showing a parallel downward trend. DIF is always below DEA during the day, and both are down. The trading volume is sluggish. CCI has crossed the -100 line within a day and is currently in the normal range, and the market may stop falling. In terms of daily level, ETH is currently a short negative line, and the price range is basically the same as yesterday. It is necessary to pay attention to whether the subsequent decline can be stopped.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly, the volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures contracts remained stable, the volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts decreased slightly.
According to data from Huobi Study Club, DeFi TVL decreased slightly and valued at $107.20 billion, the true locked value decreased slightly and valued at $79.86 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume increased significantly and it is up to $4.67 billion.
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Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
Investing in digital assets carries risks and this article does not constitute operational advice.