Evening Market Report October 22
BTC sideways oscillation, focus on the breakout of 62000 and 64000.
According to data from Huobi Global, BTC recovered slightly in the shakeout today with sluggish volume. The 4h K-line shows that the price is showing signs of stabilization, with 62,000 having some support. The 3 EMAs are flat and very close together, the Bollinger Band opening is narrowing, the DIF is still below the DEA, and the Bar is starting to shorten. This indicates that price volatility is decreasing and downward momentum is also decreasing, and prices are likely to be mainly oscillating in the short term. Daily level, today’s K-line is a doji with short upper and lower shadows, the uptrend has not changed. Evening concern about the change in volume and the support of 62,000, if the price falls below this support level, the certainty of the uptrend will weaken. In addition, 64000 is a weak pressure level.
According to data from Huobi Global, ETH rose slightly this morning and then pulled back. The market’s enthusiasm gradually declined after the carnival yesterday. From the 4h line, the EMA shows a trend of long position arrangement. The K line is still located between the upper and middle tracks of the Bollinger Bands. The opening of the Bollinger Bands slightly shrinks, parallels upwards, and the trading volume drops. DIF is still above DEA, the two lines tend to move closer, and the potential energy of the long side is comparable to that of the short side. From the daily point of view, ETH is currently a short-term positive line. Pay attention to the 4000 support level support.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings increased slightly, contract trading volume decreased slightly, and the contract market was relatively active. The basis of the delivery contract is stable.
ETH contract holdings declined slightly, contract trading volume remained basically unchanged, and the contract market was relatively active. 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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