Morning Market Report October 18
BTC high oscillation occurred overnight, watching for 62900 pressure level above.
According to data from Huobi Global,BTC dropped sharply in the night, the lowest point reached 58850 USDT, which became a new low in two days. But then rose rapidly, the final 4h- price has a slight recovery, which now locates near 62400. EMA5 is above EMA10 and EMA20, with the three moving in the same direction, and the gap tends to widen. The K-lines continues to run above the middle rail of the Bollinger Band, and the Bollinger Band shrinks. Trading volume rose sharply in the night. DIF runs under DEA, gap between them is not big, and there is an upward trend. BTC is currently on the upward trend, and the price is likely to rise rapidly. We need to pay attention to whether the rise can break through the blocking situation.
According to data from Huobi Global, ETH showed slight fluctuations during the weekend, and the trading volume increased. From the 4H level K-line, EMA5 and EMA10 are gradually approaching, the K-line is located on the upper rail of the Bollinger Band, and the opening of the Bollinger Band is gradually narrowing. In the early hours of this morning, DEA is higher than DIF, and bears are strong. Trend indicators are mostly in the normal range. Judging from the daily line, ETH presents a mid-yang 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 delivery contracts dropped slightly.
ETH contract holdings remained basically unchanged, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract dropped slightly.
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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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