BTC has dropped sharply in the early morning with strong support below at 62700.
According to data from Huobi Global, BTC fell rapidly in the early hours of this morning, and then quickly recovered, now located above 64500, there is a strong support level near 62700 below. From the 4h line, EMA5 down through EMA10, EMA20, the formation of a dead cross, k line in the Bollinger band between the middle rail and the lower rail running, Bollinger band opening slightly shrunk; volume volume is greatly enlarged, DIF extremely fast down through DEA, the two steep downward running, all indicators indicate that the empty side potential energy advantage is obvious. From the daily level, BTC is currently a long negative line, down -5.74%, but the uptrend has not broken, the daily volume change is not much, short-term concern about whether the downtrend can slow down and then stabilize.
According to data from Huobi Global,ETH trend and BTC converge, after a rapid dip in the early hours of this morning, it quickly recovered and touched a low of 4460, now located near 4600. From the 4h line, EMA5 penetrated EMA10 and EMA20, forming a dead cross; the K-line is running near the lower rail of the Bollinger band, and the opening of the Bollinger band has narrowed significantly; the volume has increased, and the DIF has steeply penetrated DEA, with the short side momentum significantly dominating. From a daily perspective, ETH is currently a long negative line, the support level below is relatively strong, the upward trend still continues to maintain, short-term concern whether stabilization.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased sharly, the volume increase significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreased sharly, the volume increase significantly 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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