Evening Market Report September 7

According to data from Huobi Global, BTC first oscillated high during the day, reaching a high of 52,924.14 USDT, then suddenly dived in the afternoon with significant volume, reaching a low of 50,500.00 USDT. 4H level, the morning K-line showed a twilight star signal (to a lesser extent), giving a mild hint of a price decline. the K-line penetrated 3 EMAs in a row, the EMAs turned down but remained long. the K-line swooped down from the upper Bollinger band and is now near the middle rail. The K-line swooped down from the upper Bollinger band and is now near the middle rail. The middle rail of the Bollinger band stays up and the opening is basically unchanged, and the DIF is in the long control area under the DEA. These signals indicate that today’s decline has limited impact on the recent uptrend, and it remains to be seen if the market can stabilize sooner. Daily level, BTC is currently a small negative with a long upper lead, there is some resistance above, EMA5 support role is still very strong, may be a break. Intraday concern about the continuation of the falling market, pay attention to the support of the middle rail of the Bollinger band, if you can get support then there is a chance to rebound, pay attention to the blocking situation of 53000.

According to data from Huobi Global, ETH has declined slightly since this afternoon. From the 4h line, EMA5 continuously fell below the EMA10 and EMA20 lines, forming a dead cross, which means that ETH showed a downward trend in the near future. The k-line is lower than the bottom line of the Bollinger Bands, the Bollinger Band openings are slightly tightened, and the openings run horizontally. The trading volume is relatively sluggish, and the RSI crosses the zero line, which constitutes a short signal. From the daily line, ETH is currently a short negative line, located in the upper position of the middle track of the Bollinger Band. Pay attention to the short-term trend of ETH falling slightly.

In terms of contracts, the big data of Huobi Futures showed that BTC contract holdings rebounded slightly, contract trading volume rebounded significantly, and the contract market was relatively active. The basis of the delivery contract remained basically unchanged.

ETH contract holdings declined slightly, while contract trading volume rebounded sharply, and the contract market was relatively active. 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 decline slightly to 123.9 billion US dollars, and the actual locked-up volume fell slightly to 92.27 billion US dollars. Among them, the top projects have not changed much. Today’s total DeFi transaction volume rose slightly to 4.4 billion U.S. dollars.

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.

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Disclaimer

Investing in digital assets carries risks and this article does not constitute operational advice.

Blockchain industry top think tank, affiliated to Huobi Group.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

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