Morning Market Report October 26
BTC oscillated overnight with strong support below 62500.
According to data from Huobi Global,BTC oscillated slightly last night, with strong support below 62500, now located near 62800. From the 4h line, EMA5 penetrated EMA10 and EMA20, forming a golden cross; K line is located near the upper rail of the Bollinger band, and the Bollinger band opening is slightly expanded; the volume is little changed from yesterday, DIF penetrated DEA, and the two are moving up in parallel, with obvious advantages of multiple forces. From the daily level, BTC is currently a short negative, the upward trend is still maintained, the subsequent attention to the volume situation and the breakthrough above.
According to data from Huobi Global, ETH continues to move upward overnight, with strong selling pressure around 4300 above. From the 4h line, currently located near 4230, EMA5 is located in EMA10, EMA20, long alignment; K line is located near the upper rail of the Bollinger band, the Bollinger band opening changes little, parallel to the upside; volume changes little, DIF on penetrating DEA, multiple parties continue to dominate. From a daily perspective, ETH is currently a short positive, short-term perspective is expected to stabilize 4200, 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 remained stable, 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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