Morning Market Report August 23
BTC continued to rise in the evening, and we need to pay attention to the above 50000 breakthrough.
According to data from Huobi Global, BTC continued to rise last night, and the rising process was relatively smooth, breaking through the upper edge of the previous shock range, reaching a maximum of 49,927.43 USDT, and trading volume remained stable. From the perspective of the daily level, BTC is currently a short-term positive line, and many parties are obviously dominant, and the price is close to the high resistance line of last week, the intraday market is more likely to go up.
In the four-hour level of picture, The K-line continuously crosses each EMA line upwards, and the three EMAs all move upwards steeply. From the perspective of Bollinger Bands, the K-line is located between the middle rail and the upper rail, and the upper rail is close, indicating that many parties are still entering the market, and the price may continue to move upward in the short-term and medium-term in the future. DIF and DEA are both positive, DIF slightly above DEA, there is a continuing upward trend, the momentum of the multilateral may further strengthen the afternoon to continue to pay attention to the continuation of the rising market, the breakthrough of 50,000 above and the support of 48,000 below.
According to the data from Huobi Global, ETH is basically the same as BTC, it rose in the evening, up to 3269.99 USDT, and it is now near 3260USDT, and the trading volume is at a normal level. In terms of daily level, ETH ushered in its first yang after the second consecutive yin, and the price rose slightly. At the four-hour level, the K-line continuously crosses the EMA lines upwards, and the three EMAs all run upwards. EMA5 crosses EMA10 and EMA20 to form a golden cross. The market momentum is relatively strong. From the perspective of Bollinger Bands, the K-line approaches from the lower rail to the upper rail, and the price may continue to move upward in the short to medium term in the future. DIF is below DEA, but the gap is gradually narrowing, and there may be an upward trend in the future. In the afternoon, we will continue to pay attention to the continuation of the rising market and the breakthrough of 3300 above, and the support of 3100 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The trading volume increased slightly and then decreased. The basis of futures contracts increased slightly.
the open interest of ETH futures increased slightly. The trading volume increased slightly and then decreased. The basis of futures contracts increased significantly.
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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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