Morning Market Report October 14
BTC is steadily rising, focusing on 58700 and the middle BB.
According to data from Huobi Global, BTC has been rising steadily since yesterday evening, and this morning the price reached a high of 58532 USDT, a new high in recent months, with a small increase in volume. Looking at the 4H level K-chart, the price has been running within a parallel channel for the last 1 week, with a mild uptrend and relatively strong pressure on the upper edge. The EMAs turned into a long alignment, the Bollinger band opening started to widen and the K-line rose back above the mid-rail. with the DIF above the 0-axis and penetrating the DEA, the price found its upward momentum and is expected to continue to rise for some time. However, today’s K-line is a bit steep, there is a possibility of adjustment after the rise. From the daily level, today’s BTC is a medium positive, the last 3 days K-line pattern similar to the star of enlightenment, especially yesterday’s K-line lower shadow line is long, indicating strong support below. Daytime concern about the continuation of the rising market, pay attention to the 58700 block and the support of the middle rail of the Bollinger band.
According to data from Huobi Global, ETH rose sharply overnight and its trading volume increased. Judging from the 4H K-line, the three EMA lines showed a long-term trend, and the K-line broke through the upper Bollinger band; early in the morning, DIF crossed DEA to form a golden cross, and the price began to strengthen, and the bulls were strong. CCI briefly entered the lower oversold range last afternoon and then re-entered the normal range, and then entered the overbought range strongly, which also indicates that the market price has entered a strong state. Judging from the daily line, ETH presents a mid-positive line, and the price gradually rebounds.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings increased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract remained basically unchanged.
ETH contract holdings remained basically unchanged, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract remained unchanged slightly.
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.