Morning Market Report November 18
BTC slowly recovering, look for support around 60,000.
According to data from Huobi Global, BTC has been slowly rising in the morning and is now expected to stabilize at 60,000. from the 4-hour line, EMA5 twisted upwards and has a tendency to penetrate EMA10, and all indicators now indicate that the bearish sentiment in the market is gradually weakening. From the daily level, BTC is currently a short positive, after the first two days of volume enlargement, today has fallen back, short-term concern whether to stand stable support level.
According to data from Huobi Global, ETH has slowly rallied in the morning, up more than BTC, currently at 2.9%, and now sits near 4290. From the 4h line, EMA5 twisted upwards and has the potential to penetrate EMA10; the K-line is running near the middle rail of the Bollinger band; all indicators now show that the market’s bearish sentiment is gradually weakening. From a daily perspective, ETH is currently a short positive line, volume has fallen, the follow-up concern above whether there is a breakthrough.
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 remained stable, the volume decrease slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
About Huobi Research
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.
Investing in digital assets carries risks and this article does not constitute operational advice.