Morning Market Report August 11

BTC moved sideways last night. Pay attention to the breakthrough of 46500 above.

According to the data from Huobi Global, BTC fell slightly last night, moving sideways around 45000. In this morning, it rebounded and has returned to above 45000. The trading volume is at a normal level. In day level of picture, BTC is now a short positive, basically covering yesterday’s decline. The intraday market is more likely to move sideways.

In four-hour level of picture, the K-line is alternately bonded with EMA5 and EMA10. All EMAs tend to flatten. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. All rails move upward smoothly. The bandwidth remains unchanged. So BTC may tend to be flat in the short term. KDJ is greater than 50, indicating BTC is in a rising market. However, DIF stays below DEA and has no trend to breakthrough. The short sides bar tends to increase. Therefore, the rising market may be limited. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 46500 above and the support of 44500 below.

According to the data from Huobi Global, ETH fluctuated more greatly. The upper edge of the consolidation interval was 3250 and the lower edge was 3050. Both sides were competing fiercely and the trading volume is enlarged for a short period. It is currently moving sideways around 3150. In day level of picture, ETH is now a short positive, covering yesterday’s decline. The intraday market is more likely to move sideways. In four-hour level of picture, the K-line oscillated around EMA5. All EMAs tend to flatten. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. All rails tend to flatten and the bandwidth remains unchanged. KDJ is greater than 50. DIF stays below DEA, both of which are positive and move downward. The short sides bar remains unchanged. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3250 above and the support of 3050 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The trading volume decreased slightly and the market is inactive. The basis of futures contracts decreased slightly.
The open interest of ETH futures contracts decreased slightly. The trading volume decreased slightly and the market is inactive. The basis of futures contracts decreased slightly.

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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.@Huobi Global