Evening Market Report October 15
BTC rallies and then shakes at high levels, watching for breakouts at 60000 and 56800.
According to data from Huobi Global, BTC rose on a small volume in the morning, with the highest price very close to 60,000 USDT, a new high in recent months. After the afternoon, the price was shaking at a high level and the volume fell back. Looking at the 4H level K-line chart, the uptrend has become more and more obvious in recent days. Both the SMA and the Bollinger band mid-rail accelerated upward, the Bollinger band opening expanded, the K-line fell back after a short penetration of the upper Bollinger band, the MACD Bar continued to increase, and today’s price action was the strongest day in recent memory. The two recent K-lines each carry a long upper and long lower shadow, indicating that the market is more divided on the current price and the pressure seems relatively high at the moment. From the daily level, today’s BTC is a medium-positive line, trading volume maintained at a high level in the recent past, and the uptrend has no obvious reversal signal. In the evening, we are concerned about the continuation of the rising market, the blocking situation of 60000 and the support situation of 56800.
According to data from Huobi Global, the price of ETH continues to rise today and is currently near 3750. From the 4h line, the K-line runs near the upper rail of the Bollinger Band. The opening of the Bollinger Band expands, and both ends diverge; the transaction volume rises, DIF continues to be above DEA, and the long position is dominant. CCI has been in the overbought range for two consecutive days and entered the regular range at 4 pm today, indicating that the rising phase of market prices might be over. Judging from the daily line, ETH is currently a short-term negative line with strong support below.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings have risen slightly, contract trading volume has risen slightly, and the contract market has gradually become active. The basis of the delivery contract is basically stable.
ETH contract holdings remained stable, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is 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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