Morning Market Report November 10
BTC retreated overnight with strong support below at 66200.
According to data from Huobi Global, BTC fell back overnight, failed to stand firm 68000, below 66200 support is strong, morning attempt to break through 68000 again was blocked, currently in 67000 near a small oscillation. From the 4h line, EMA5, EMA10 gradually tends to level, EMA20 upward speed slowed, k line in the Bollinger band between the middle and upper rail running, Bollinger band opening slightly narrowed; volume volume is relatively depressed, DIF has a downward trend through DEA, multi-party momentum gradually weakened. From the daily level, BTC is currently above with a short shadow of a short positive, currently in the consolidation phase, the upward trend has not been broken, short-term attention to the volume situation and whether the upward breakthrough again and maintain.
According to data from Huobi Global, ETH is moving slightly downwards, currently running around 4700. From the 4h line, the three averages are running nearly parallel, and the short-term trend is unclear; the K-line is running near the middle rail of the Bollinger band, and the opening of the Bollinger band is slightly shrinking; the volume is relatively depressed, and the DIF is penetrating the DEA, and the empty potential is gradually revealed. From a daily perspective, ETH is currently a short negative line, the upward trend has slowed down significantly, the short-term may enter the consolidation phase, pay attention to whether stabilization and the change in volume.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures
remained stable, the volume decrease slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreased slightly, the volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
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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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