BTC moved lower overnight, with strong support below at 62,000.
According to data from Huobi Global,BTC continued to move lower last night, and now has a stop fall, and is now located near 62,000. From the 4h line, EMA5 steeply down through EMA10, EMA20, the formation of a dead cross; K line is located below the middle rail of the Bollinger band, the Bollinger band opening slightly narrowed, horizontal operation; volume slightly enlarged yesterday night, DIF steeply down through DEA, the gap between the two is relatively large, the empty side potential energy advantage is obvious. From the daily level, BTC is currently a short cross, has not yet fallen below the previous day’s support level of 62,000, if the follow-up can continue to stabilize the support level, the overall upward trend or will remain.
According to data from Huobi Global, ETH failed to form an effective breakthrough yesterday, and gradually weakened after touching 4372, with stronger pressure above around 4400. From the 4h line, ETH after yesterday night’s decline, there is now a stabilization phenomenon, located near 4130, below 4000 support is stronger; K line is located between the upper and middle rails of the Bollinger band, the Bollinger band opening slightly narrowed, parallel to the upside; volume in yesterday night has been enlarged, DIF is still located above DEA, but there is a downward trend, the multi-party momentum gradually weakened. From a daily perspective, ETH is currently a short positive, short-term perspective is expected to stabilize 4100, and then continue to focus on the maintenance of the upward trend.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increase 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 decrease slightly, the volume increase significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
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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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