Morning Market Report October 12
BTC is shaking sideways after a small rise, focusing on the breakout of 57800 and 55800.
According to data from Huobi Global, BTC pulled up slightly yesterday evening and stayed sideways and oscillating overnight, with prices peaking at 57828 USDT, before falling back slightly this morning with gradually decreasing volume. The price has broken through the upper edge of the oscillation range several times, the original oscillation range is invalid, the price appears more obvious uptrend. k line repeatedly penetrated EMA5, EMA5 turned down, Bollinger band opening basically unchanged, the market is likely to transition to a period of oscillation market. macd double line began to twist together, this indicator is temporarily invalid. From the day-to-day level, BTC saw its first negative after 4 consecutive positive days, but today’s decline is not large, the highest price is still higher than yesterday, the price still remains strong. Day-to-day concern about the continuation of the down market, pay attention to the 57800 block and 55800 support.
According to data from Huobi Global, ETH dropped slightly since last night. From the 4h line, EMA5<EMA10<EMA20, and the k-line fell into the lower track of the Bollinger Bands, which was consistent with last night’s forecast; DIF was located below DEA, the gap continued to narrow, and the short side potential energy weakened. Judging from the daily line, ETH is currently a short negative line, and the main Oscillation index are all within the normal range, indicating that the current market is relatively stable.
In terms of contracts, the data of Huobi Futures showed that the BTC contract holdings remained basically unchanged, the contract volume continued to decline, and the contract market was relatively inactive. The basis of the delivery contract is stable.
ETH contract holdings increased slightly, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is 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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