Morning Market Report October 27

BTC dropped sharply overnight, with strong support below at 60,000.

According to data from Huobi Global,BTC fell more last night, after touching 59818, a small recovery, now located near 60000–61000 oscillation, but sustainability remains to be seen. From the 4h line, EMA5 penetrated EMA10 and EMA20, forming a dead fork; K-line night from the middle rail of the Bollinger band quickly downward to located in the lower rail of the Bollinger band, the Bollinger band opening almost unchanged, horizontal operation; volume was enlarged yesterday night, DIF steeply down through DEA, the current gap between the two has a tendency to widen, the short-side momentum gradually revealed. From the daily level, BTC is currently a short negative, the follow-up attention to the volume situation and the support level is effective, if it can stand stable 60000, the upside trend continues to maintain.

According to data from Huobi Global, ETH fell slightly overnight, with strong support below 4100. From the 4h line, it is currently located near 4170, EMA5 is located above EMA10 and EMA20, and the three are running parallel; the K-line is running on the middle rail of the Bollinger band, and the opening of the Bollinger band has not changed much, with a small parallel upward movement; the volume has enlarged overnight, and DIF has penetrated DEA, with the short side slightly revealed. From the daily view, ETH is currently short negative, with long shadows above and below. From the volume situation, ETH trading volume has been relatively depressed in recent days, with short-term concerns about whether it can stand stable at 4000 and the volume situation.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increase slightly, the volume increase 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 slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.

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Investing in digital assets carries risks and this article does not constitute operational advice.

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