Morning Market Report November 9
BTC moves up to above 67,500, breaking above all-time highs.
According to data from Huobi Global, BTC continued to move upwards overnight, constantly hitting new all-time highs, with the highest level touching 67685. From the 4h line, BTC stood steady above 65000 after yesterday’s acceleration upwards, with EMA5, EMA10 and EMA20 in a multi-headed arrangement, with the k-line running near the upper Bollinger band and the Bollinger band expanding significantly, with a good short-term trend. The volume was enlarged yesterday, the DIF continues to be above the DEA, the long momentum is significant and continues to prevail, the market bullish sentiment is high. From the daily level, BTC is currently a short positive, to achieve three consecutive positive, upward momentum to maintain, the trend is good, short-term attention to the volume situation and the above breakthrough situation.
According to data from Huobi Global, ETH has moved upwards overnight and after a small pull up last night, the upward movement has slowed down and is now located near 4780 with strong support near 4730 in the short term. From the 4h line, EMA5, EMA10 and EMA20 are in a multi-headed arrangement; the K-line is running near the upper Bollinger band and the Bollinger band opening is expanding significantly; the volume has expanded yesterday and the DIF continues to be above the DEA, with multi-party momentum continuing to prevail. From a daily perspective, the ETH is currently a short positive line, the upward trend is slowing down, short-term attention to continue to break through the previous high.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures
increased slightly, the volume decrease 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 decreased 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.