Morning Market Report July 12
BTC fluctuated to rise. Pay attention to the breakthrough of 35000 above.
According to the data from Huobi, BTC fluctuated to rise on the weekend. The lower edge of the consolidation interval was 33000 and the upper edge was 34500. It is currently moving sideways around 34000 for a short period of time. The trading volume increased first and then decreased. In day level of picture, BTC ushered four consecutive negatives, but the total increase was not big. It is still at a relatively low level now.
In four-hour level of picture, The K-line crossed EMA5, EMA10 and EMA20 more than once on the weekend. It currently stays above all EMA. EMA5 crossed EMA10 and EMA20 to form a golden cross on Sunday. All EMAs move upward smoothly. From the analysis of the Bollinger Bands, the K-line is basically located between the middle rail and the upper rail, approaching the upper one. It briefly broke the upper rail in this morning with the trading enlarging significantly. So the market was “overbought” and it fell slightly. However, all rails move upward and the bandwidth remains unchanged. BTC may rebound in the short term. DIF that turns from negative to positive is continuously stay above DEA, which continues to increase and may turn into positive as well, indicating the upward energy may be strengthened. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 35000 above and the support of 33500 below.
According to the data from Huobi, ETH continued to fall first, reaching the lowest 2075.00 USDT, and then it rebounded slightly. It is now moving sideways around 2130 for a short period of time. The trading volume is not enlarged significantly. In day level of picture, ETH ushered one negative and one positive at the weekends. It was at relatively low level. At present, both sides are competing fiercely. In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20 on the weekend. In this morning, EMA5 crossed EMA10 to form a golden cross, both of which move upward smoothly. Meanwhile, the K-line goes back to stay above EMA5 and EMA10, approaching EMA20. From the analysis of the Bollinger Bands, the K-line is now located between the upper rail and the middle rail. All rails tend to flatten. The bandwidth tends to shrink. DIF crossed DEA to form a golden cross on Sunday, both of which were negative but move upward. The downward energy becomes weaker. If the subsequent two continue to rise from negative to positive, the market trend may change. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2200 above and the support of 2100 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 decreased 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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