Morning Market Report October 11
BTC oscillated sideways over the weekend, watching for a breakout at 56,500 and 54,100.
According to data from Huobi Global, BTC oscillated sideways around 55,000 USDT over the weekend, with small fluctuations in volume, maintaining low levels overall. From the 4H level K-line chart, the price has been in a narrow range for the past 5 days, with little price fluctuation and little willingness to fight in the market. 3 EMAs are closer together, the Bollinger band stays in a tightened state, the MACD double line trend and spacing also remain the same, and the market stays in a balanced state. From the day-to-day level, BTC is currently a star line and the uptrend is still valid. Pay attention to the change in volume during the day, and pay attention to the block at 56,500 and the support at 54,100.
According to data from Huobi Global, ETH experienced a slight price correction (price went down) during the weekend and is currently located near 3,500. From the 4h line, the three EMA lines are arranged in a long position; the k-line breaks through the lower rail of the Bollinger Band, and the opening of the Bollinger Band enlarged; DIF is located below the DEA, the gap gradually widens, and the short side has the advantage. Judging from the daily line, ETH is currently a short negative line, and the main Oscillation Index are all within the normal range.
In terms of contracts, the data of Huobi Futures showed that the BTC contract holdings remained basically unchanged, the contract volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.
ETH contract holdings remained basically unchanged, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically 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.