Evening Market Report August 6

BTC trades sideways during the day, pay attention to the top breakthrough.

According to data from the Huobi Global, BTC trades sideways at 40,700 in the day. In four-hour level of picture, the K line crosses EMA 5 downwards for a short period of time during the day, and continues to stay above EMA 10 and EMA 20. The three EMAs are on the rise. The K line continues to be located between the middle track and the upper track of the Bollinger Band, and the opening of the Bollinger Band is slightly enlarged. DIF continues to be above DEA, and DEA turns from negative to positive. CCI continues to stay above the 100 line. The trading volume is relatively sluggish, and the market may rise slightly. In day level of picture, BTC rose slightly today. In the evening, continue to pay attention to the continuation of the sideways trend and the breakthrough of 41200 above and the support of 39800 below.

According to data from the Huobi Global, ETH trades sideways at 2770 within the day. In four-hour level of picture, the K line shortly crossed EMA 5 downwards and continued to stay above EMA 10 and EMA 20. The three EMAs showed a slight upward trend. The K line continues to be located between the upper and middle tracks of the Bollinger Band, and the opening of the Bollinger Band slightly expands. DIF continues to be above DEA for the day, and both are positive. CCI crossed the 100 line downwards. The trading volume is relatively sluggish. The market may rise slightly. In day level of picture, ETH ushered in three consecutive positives, but the intraday gains were not large. In the evening, continue to pay attention to the continuation of the sideways trend and the breakthrough of 2850 above and the support of 2680 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts decreased slightly.

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, today, DeFi TVL remained stable and valued at $93.83 billion, the true locked value remained stable and valued at $70.95 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume decreased slightly and valued at $4.22 billion. Among them, the top programs have not changed much.

About Huobi Research

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.

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Disclaimer

Investing in digital assets carries risks and this article does not constitute operational advice.

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