Morning Market Report August 18
BTC dived slightly in the evening. Pay attention to the support of 43500 below.
According to the data from Huobi Global, BTC continued to fall last night. In this morning, BTC fell again, breaking the previous low. The lowest is 44215.21 USDT and the trading volume is relatively sluggish, indicating the short sides are dominant. In day level of picture, BTC ushered in two consecutive negatives. It is currently at the short-term peak. The intraday market is more likely to move downward.
In four-hour level of picture, the K-line basically stays below all EMAs and the resistance below EMA20 is strong. All EMAs move downward. From the analysis of the Bollinger Bands, The K-line is located between the middle rail and the lower rail, currently locating at the lower one. Therefore, the market is oversold. KDJ is around 20, approaching the oversold area, so BTC may rebound in the short term. However, MACD continues to move downward. DIF turns from positive to negative and the short sides energy is increasing. The future rebound may be limited. 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 continued to fall from last night to this morning, reaching the lowest 2950.00 USDT. It has now returned to above 3000 for a short time. The trading volume is at a normal level. In day level of picture, ETH ushered in two consecutive negatives. In four-hour level of picture, the K-line stays below each EMA. All EMAs move downward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail. The bandwidth tends to expand and all rails move downward. KDJ is approaching the oversold area and MACD turns from positive to negative, indicating the short sides are getting stronger. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3100 above and the support of 2900 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased slightly. 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 increased slightly.
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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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