Morning Market Report July 30

BTC continued to move sideways. Pay attention to the support of 39000 below.

According to the data from Huobi Global, BTC continued its intraday consolidation trend last night. The lower edge of the consolidation interval was 39500 and the upper edge was 40500. BTC is currently moving sideways around 39900 for a short period of time and the trading volume is relatively sluggish. In day level of picture, BTC is now presenting as a “Doji” so the 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, so BTC may continue to fluctuate in the short term. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. All rails tend to flatten and the bandwidth remains unchanged, indicating the market may still move sideways. DIF stays below DEA, both of which are positive and move downward. The short sides energy bar is increasing. The market may fell back during the day. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 41000 above and the support of 39000 below.

According to the data from Huobi Global, ETH and BTC formed a certain divergence. ETH continued to rise last night, reaching the highest 2413.00 USDT. The trading volume is relatively sluggish. In day level of picture, ETH ushered in three consecutive positives. It rose slightly and is at a relatively high level in the past one and a half months. In four-hour level of picture, the K-line stays above EMA20, oscillating near EMA5 and EMA10. All EMAs move upward. From the analysis of the Bollinger Bands, the K-line is located between the upper rail and the middle rail, which briefly crossed the upper rail. It is now in a “overbought” state. DIF crosses DEA to form a golden cross, both of which are positive and move upward. The long sides bar is increasing now. CCI crosses the 100 line. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2500 above and the support of 2300 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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Disclaimer

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

Blockchain industry top think tank, affiliated to Huobi Group.