Morning Market Report July 14

BTC continued to move sideways after a slightly fall. Pay attention to the support of 32000 below.

According to the data from Huobi Global, BTC fell rapidly last night, reaching the lowest 32200.00 USDT. The support was strong so BTC failed to breakthrough many times at this point. It is currently moving sideways around 32500 for a short period of time. The trading volume increases first and then decreases. In day level of picture, BTC ushered three consecutive negatives. BTC may continue to fluctuate in a narrow range and is more likely in a downward trend.

In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20. The decline covers intraday rebound. All EMAs move downward steeply, indicating the short sides are dominant. From the analysis of the Bollinger Bands, the K-line is continuously located between the middle rail and the lower rail, approaching the lower one. Both of them move downward. The bandwidth tends to expand. BTC may fluctuate more greatly in the short term and is still in downward trend. DIF continuously stays below DEA, both of which are negative, indicating the downward energy is strong. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 33000 above and the support of 32000 below. If it continues to fall below, the falling market may continue for a period of time.

According to the data from Huobi Global, ETH continued to fall last night, reaching the lowest 1884.54 USDT. It is now moving sideways around 1900 for a short period of time. The trading volume increases and then decreases. In day level of picture, ETH ushered three consecutive negatives, which was at relatively low level. In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20. All EMAs move downward steeply. From the analysis of the Bollinger Bands, the K-line is located between the lower rail and the middle rail, both of which move downward and the bandwidth tends to expand. DIF continuously stays below DEA, both of which are negative. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 1950 above and the support of 1850 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 decreased 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 decreased slightly.

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Disclaimer

Investing in digital assets carries risks and this article does not constitute operational advice.

Blockchain industry top think tank, affiliated to Huobi Group.