Evening Market Report（Feb.23）
BTC price continued to rise slightly during daytime, pay attention to the 39500 pressure level above.
According to the data of Huobi Global, BTC started to recover since yesterday’s noon. This morning, it encountered resistance and dropped slightly, but then rose again. As of now, the trend still exists, and it is now around 38800. Judging from the 4-hour K-line, all the moving averages have turned their heads upward, and DIF has crossed DEA upward to form a bullish signal. The long side potential is strong, and the daily trading volume has declined. In short term, focus on whether price can continue to break above the 39500 pressure level. From the daily level, the price of BTC oscillated sideways, and the amplitude is relatively large. The downward trend has not been reversed for the time being. Pay attention to the direction of the price after the adjustment.
According to the data of Huobi Global, ETH encountered resistance in the morning, but then continued to rise with a large momentum. It is currently around 2712, which is the same as the price trend of BTC. Judging from the 4-hour k-line, the lower support was relatively strong after it dropped to a low of 2500 yesterday, and the rebound momentum was obvious. However, whether it can reverse the trend still relies on subsequent price breakthrough. Although the trading volume has declined, the recent trading volume are relative large. From the daily level, the price has not rebounded significantly, and pay attention to the direction of subsequent price adjustment in the short term.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased, the volume kept stable, and the contract market was relatively active. The basis of futures contracts remained stable.
The open interest of ETH futures increased slightly, the volume remained stable, and the contract market was relatively active. The basis of futures contracts remained stable.
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