Evening Market Report October 26
BTC shaking to the downside, watch for breakout of 62200 and 63300.
According to data from Huobi Global, BTC oscillated to the downside in the late afternoon. Looking at the 4h K-line, the price is basically in a state of oscillation downward today, especially by late afternoon, the price fluctuation is small, the volume is also small, and the overall condition is relatively boring. The price may have entered a box-shaped range in the last 5 days, with the upper edge of the range around 63700 and the lower edge around 59600. The averages are again close together, the Bollinger Band opening remains unchanged, the middle rail is tilted upward and the K-line is running between the middle and upper rails. These signs indicate that prices still have the potential to move upward, with some short-term energy accumulation needed and more likely oscillation in the upper part of the box. Daily level, today’s price failed to continue yesterday’s strong rally, the K-line is a small negative, but still can stand above the EMA5, short-term trend is unclear. In the evening, we are concerned about the continuation of the down market, the support situation of 62200 and the blocking situation of 63300 (weak pressure level).
According to data from Huobi Global, ETH was dominated by small downtrend today. Recently, ETH is in a votatile state. From the 4h line, it is currently located near 4200, and the EMA lines are arranged in long positions; the K line is located near the upper rail of the Bollinger Bands, and the opening of the Bollinger Bands expands a little bit; the trading volume has not changed much, and long positions continue to dominate the market. From the perspective of the daily line, ETH is currently a doji line. In the short term, it is expected to stand firmly at 4100, and then continue to pay attention to the trend of small fluctuations at the high level.
In terms of contracts, the data of Huobi Futures showed that BTC contract open interest increased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.
ETH contract holdings declined slightly, contract trading volume remained almost unchanged, and the contract market was relatively inactive. The basis of the delivery contract is basically 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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