Morning Market Report August 25
BTC declined in the short term.We need to pay attention to 48000 USDT support.
According to data from Huobi Global, BTC continued to decline yesterday evening, as low as 47,639 USDT. The trading volume increased significantly, and it may enter a downward trend in the short term. At the four-hour level, the k-line is located below EMA5, EMA10 and EMA20.All lines are all down, and EMA5 crosses EMA10 and EMA20.The k-line is located between the middle rail and the lower rail of the Bollinger Band, and is close to the lower rail. The opening of the Bollinger Band expands slightly. The DIF is continuous and significant below the DEA. The short side force is strong, and BTC may be under downward pressure in the short term. BTC has fallen below the rising trend line in recent days. The current price is just at the upper edge of the previous shock range. We need to pay attention to whether it could stand at 48000 USDT today. If it can be supported at 48000 USDT, it may be possible to take this as a step and hit the price of 50,000 and higher again.
According to data from Huobi Global, ETH showed a short-term downward trend at night, as low as 3144.99 USDT, and trading volume increased slightly. At the four-hour level, the k-line is located below EMA5, EMA10 and EMA20.All lines are all down, and EMA5 crosses EMA10 and EMA20. The Bollinger band opening is expanded slightly, and the middle rail is close to the level. DIF continues to be below DEA. The short side force is strong, and ETH may be under downward pressure in the short term.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly, the volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts dropped slightly. The open interest of ETH futures contracts was increased slightly, the volume declined slightly, and the contract market was relatively inactive. The basis of futures contracts dropped 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.
Investing in digital assets carries risks and this article does not constitute operational advice.