Morning Market Report August 13

BTC fell slightly. Pay attention to the changes of trading volume.

According to the data from Huobi Global, BTC continued the intraday decline, reaching the lowest 43776.34 USDT, and then oscillated at a relatively low level. It is currently moving sideways around 44500 and the trading volume is relatively sluggish. In day level of picture, BTC had a medium negative, which has returned blow 44000. It is now a short positive.

In four-hour level of picture, the K-line basically stays below each EMA, but now it tends to move upward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail. It briefly broke the lower rail, indicating BTC may rebound in the short term. However, the lower has a downward divergence and the bandwidth remains unchanged. So the rebound may be limited. MACD and KDJ move downward, approaching the oversold area but is not likely to breakthrough. So the short sides energy is insufficient. The intraday market is more likely to oscillate. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 45500 above and the support of 43500 below.

According to the data from Huobi Global, ETH is basically the same as BTC. It first fell rapidly, reaching the lowest 2980.36 USDT, and then began to rebound. It is now moving sideways around 3100 and the trading volume is relatively sluggish. In day level of picture, ETH fell slightly yesterday and is now rising. In four-hour level of picture, the K-line basically stays below each EMA. All EMAs tend to be flat. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail. It briefly broke the lower rail and all rails tend to be flat. The bandwidth remains unchanged. KDJ is approaching the oversold area but now tends to reverse. DIF stays below DEA, both of which are positive and move downward. The short sides bar tends to decrease. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3200 above and the support of 2950 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 remained stable. The trading volume decreased slightly and the market is inactive. The basis of futures contracts decreased slightly.

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.

Follow Us

Twitter | Medium | Facebook

Disclaimer

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

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store