Evening Market Report September 6
BTC intraday sideways oscillation, focus on the support of 51000
According to data from Huobi Global, BTC oscillated narrowly during the day, with trading volume shrinking. Today’s gains were almost all done in the early morning hours, with day-to-day price action of just 1%. 4H levels showed a sideways move accompanied by a gradual reduction in trading volume as the market digested previous gains. EMAs remained long, with a slowing upward angle that is catching up with the k line. K line returned to the inner Bollinger Band, running close to the upper rail, with the Bollinger Band opening continuing to widen. The MACD line stays above the signal line and the Bar remains stable. In the short term, it looks like the market is in a truce. At the daily level, BTC is now almost bare-headed and bare-footed, with strong support from EMA5 and a more definite uptrend. In the evening, we can pay attention to the continuation of the rising market, the support situation of 51000, there is no obvious resistance level above.
According to data from Huobi Global, ETH continued its upward trend yesterday, and the current highest level is 3956 USDT. From the 4h line, the three moving averages are arranged in long positions, but the upward trend remains the same as yesterday. The k-line runs between the upper and middle rails of the Bollinger Bands, the openings of the Bollinger Bands are parallel, and there is no obvious change in size. From the perspective of the daily line, ETH is currently a small Yang line, slightly breaking the upper Bollinger Band, and the momentum of multiple parties continues to be strong. In the short term, pay attention to the slight decline of ETH.
In terms of contracts, the data of Huobi Futures showed the open interest of BTC contract dropped slightly, the contract volume dropped simultaneously, and the contract market was relatively inactive. The basis of the delivery contract remained basically unchanged. ETH contract holdings increased slightly, contract trading volume fell slightly, and the contract market was relatively inactive. The basis of the delivery contract remained basically unchanged.
According to data monitoring by Huobi Study Club, the total DeFi lock-up volume (TVL) continued to rise slightly to $127.53 billion, while the actual lock-up volume fell slightly to $94.92 billion. Among them, the top project has not changed much. Today’s total DeFi transaction volume dropped slightly to $3.3 billion.
About Huobi Research
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.
Investing in digital assets carries risks and this article does not constitute operational advice.