blockMorning Market Report November 3

BTC downside overnight with strong support below 62000.

According to data from Huobi Global, BTC went down last night and is now located near 63000 oscillation. From the 4h line, BTC after many days of shock, the upward channel gradually opened, EMA5, EMA10, EMA20 multi-headed arrangement; K-line running near the upper rail of the Bollinger band, the Bollinger band open significantly expanded; volume yesterday night relatively depressed, DIF steeply up through DEA, the long momentum obviously prevailed, the market bullish sentiment is high. From the daily level, BTC is currently a short negative, has been continuously in the 60000–64000 range oscillation for many days, the current upward trend is expected to reopen, short-term attention to the volume situation and the breakthrough above.

According to data from Huobi Global,ETH continues to rise overnight, currently up 2.54%, has continuously made new highs and is currently located above 4600. From the 4h line, EMA5 is located above EMA10 and EMA20, and the averages are multi-headed; the K-line runs along the upper rail of the Bollinger band, and the opening of the Bollinger band expands significantly; the volume does not change much, and DIF goes up through DEA, both of which are steeply upward, with the absolute advantage of multi-party momentum. From a daily perspective, ETH is currently a medium-positive line, has achieved three consecutive positive, short-term attention to continue to focus on the maintenance of the upward trend.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures

increase slightly, the volume increase slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.

The open interest of ETH futures increased slightly, the volume remained stable, 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.

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Disclaimer

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

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