Morning Market Report July 29

BTC moved sideways last night. Pay attention to the support of 38500 below.

According to the data from Huobi Global, BTC continued to move sideways last night. The lower edge of the consolidation interval was 38500 and the upper edge was 41000. BTC is currently moving sideways around 39500 for a short period of time and the trading volume fell slightly. In day level of picture, BTC is now a short negative. Resistance is equal to support.

In four-hour level of picture, the K-line stays above EMA20, oscillating near EMA5 and EMA10. All EMAs tend to flatten. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, approaching the middle one. Both the middle rail and the lower rail move upward, and the bandwidth tends to shrink. So BTC is not likely to rise in the short term. Both KDJ and MACD show dead cross signals. DIF diverges downwards. The short sides bar begins to increase, indicating the short sides energy is getting stronger. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 40500 above and the support of 38500 below.

According to the data from Huobi Global, ETH continued to move sideways last night. The lower edge of the consolidation interval was 2250 and the upper edge was 2350. It is currently moving sideways around 2280 for a short period of time. The trading volume fell slightly. In day level of picture, ETH is now a short negative. In four-hour level of picture, the K-line stays above EMA20, oscillating near EMA5 and EMA10. All EMAs tend to flatten. From the analysis of the Bollinger Bands, the K-line is located between the upper rail and the middle rail, briefly breaking the middle one. The bandwidth tends to shrink. DIF stays below DEA, both of which are positive and move downward. The short sides bar is increasing now. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2350 above and the support of 2200 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased slightly. 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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Disclaimer

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

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