Evening Market Report October 08
BTC rallied slightly in the afternoon, focusing on whether the top can break 56000.
According to data from Huobi Global, BTC recovered slightly in the afternoon and is now located near 55500. From the 4h line, the pressure above 56000 is stronger, EMA5 is located above EMA10, EMA20, the three are slowly moving up; K line is running between the middle and upper rail of the Bollinger band, and gradually approaching the upper rail, the Bollinger band opening parallel upward; volume has picked up compared to yesterday, DIF under penetration DEA, the gap between the two is not large, the short side momentum gradually weakened. From the daily level, BTC is currently a short positive, reverse package yesterday’s decline, short-term support level of 53300, short-term consolidation or will continue to move up.
According to data from Huobi Global, ETH is oscillating at a high level during the day and is currently located near 3650. From the 4h line, EMA5 is located above EMA10 and EMA20, the three averages are parallel to the upside, the multiple arrangement; k line is located between the upper rail and the middle rail of the Bollinger band, the Bollinger band opening parallel to the upside; volume is relatively micron, DIF and DEA almost overlap, more and less potential energy. From a daily perspective, ETH is currently a short positive, the rise is not large, has now stabilized 3500 a line, concerned about whether the rising trend can continue.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increaseed slightly, the volume increaseed slightly, and the contract market was relatively active. The basis of futures contracts remained stable.
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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.
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