Morning Market Report August 19
BTC rose and fell, oscillating at a relatively low level. Pay attention to the support of 44000 below.
According to the data from Huobi Global, BTC rose slightly last night, reaching the highest 46021.44 USDT, and then fell rapidly, reaching the lowest 44000.00 USDT. It is currently moving sideways around 45000 for a short period of time. The trading volume is relatively sluggish. In day level of picture, BTC is now a short negative. There is no obvious bottom signal yet, so the intraday market is more likely to oscillate.
In four-hour level of picture, the K-line oscillates around each EMA. All EMAs tend to flatten. From the analysis of the Bollinger Bands, The K-line is located between the middle rail and the lower rail, approaching the middle one. All rails tend to be flat, indicating the market may move sideways in the short term. The resistance of the middle rail will be tested. In the evening, KDJ showed a gold cross signal. As a result, the long sides began to counter back, leading a shortly rise. However, the long sides were not strong enough, so BTC failed to break through the upper edge of the previous oscillation interval. MACD continues to move downward below zero axis, indicating the short sides are dominant. If both DIF and DEA could reverse, resulting the short sides being insufficient. The downward market may be changed. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 46000 above and the support of 44000 below.
According to the data from Huobi Global, ETH is basically the same as BTC. ETH first rose slightly, reaching the highest 3125.00 USDT, and then fell rapidly, reaching the lowest 2997.00 USDT. It has now returned to above 3000 for a short time. The trading volume is relatively sluggish. In day level of picture, ETH ushered in three consecutive negatives. In four-hour level of picture, the K-line fluctuates around 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 tends to be flat and MACD lines tend to flatten below the zero axis, indicating the short sides are dominant. 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 increased 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.
