Morning Market Report August 5
BTC rebounded slightly at night and then fluctuated. Pay attention to the support of 38500 below.
According to the data from Huobi Global, BTC rebounded slightly and approached the 40000 line again where the resistance was strong. In this morning, BTC fell again and is currently oscillating around 39000. The trading volume is relatively sluggish. In day level of picture, BTC had a short positive yesterday, covering 2/3 of the previous decline. It is now presenting as a short positive, with both sides competing fiercely.
In four-hour level of picture, EMA5 crosses EMA10 and EMA20 in turn to form a golden cross. All EMAs move upward and then tend to flatten. From the analysis of the Bollinger Bands, the K-line is back between the middle rail and the upper rail. However, it fell slightly and the bandwidth tends to shrink, which will continue to test the pressure on the middle rail. The KDJ lines move upward and are approaching the overbought interval. BTC may have a certain callback. However, DIF crosses DEA to form a golden cross and the long sides bar is increasing. Both DIF and DEA may turn from negative to positive. The market may continue to fluctuate upward. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 41000 above and the support of 38500 below.
According to the data from Huobi Global, ETH rose rapidly last night, reaching the highest 2771.42 USDT. In this morning, ETH fell slightly and is currently moving sideways around 2680. The trading volume is at a relatively high level. In day level of picture, ETH ushered in two consecutive positives, covering the decline of August 3. In four-hour level of picture, the K-line stays above each EMA. EMA5 crosses EMA10 and EMA20 to form golden cross. All EMAs move upward. From the analysis of the Bollinger Bands, the K-line is located between the upper rail and the middle rail, approaching the upper rail. The bandwidth tends to expand. DIF crosses DEA to form a golden cross, both of which are positive and move upward. The long sides bar is increasing now. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2800 above and the support of 2600 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The trading volume decreased slightly and the market is inactive. The basis of futures contracts increased slightly.
The open interest of ETH futures contracts increased slightly. 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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