Morning Market Report August 27
BTC shocks to the upside overnight, focus on breakout of 48300 and 46300
According to data from Huobi Global, BTC oscillated narrowly yesterday evening, and this morning the oscillation increased and had a slight rise, reaching a high of 47,668.10 USDT, with volume at the recent average level. The price was supported twice around 46300, and it remains to be seen if the recent downtrend can be ended. At the four-hour level, the EMA5 is flattening, the K-line is gradually moving away from the lower Bollinger band, the middle Bollinger band is flattening down, the opening remains stable, the MACD line and the signal line are moving down but gradually approaching, the Bar is decreasing, the CCI is returning to above -100, the price is stabilizing. If the KDJ shows a low-level golden cross, it is an upside signal. Daily level BTC collected a medium negative yesterday, the middle rail of the Bollinger band withstood the test, the uptrend has not changed significantly. Intraday attention to the continuation of the rising market, the 48300 block and the 46300 support.
According to data from Huobi Global, ETH has been oscillating sideways overnight, with trading volume remaining at average levels. At the four-hour level, the k-line repeatedly crossed up and down through EMA5, and the SMAs were in a short alignment and parallel down. The Bollinger band opening is basically stable, the middle rail is slowly going down, the MACD line and signal line are also parallel and down, there is no significant change in the Bar, and overall it seems that there is little willingness to fight between long and short. Daily level, ETH recent high level oscillation, Bollinger band obviously closed, the middle rail has been broken. Intraday attention to the change in volume, the blocking situation of 3250 and the support situation of 2950.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures was stable, the volume was stable, and the contract market was relatively inactive. The basis of futures contracts was stable. The open interest of ETH futures contracts was stable, the volume was stable, and the contract market was relatively inactive. The basis of futures contracts rise 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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