BTC continues to oscillate, focus on whether it can stand firm at 43000 support level.
According to data from Huobi Global, BTC has been oscillating continuously for a long time. From the 4h line, running near the EMA5 and EMA10, the three averages gradually close together and tend to be horizontal. From last night’s k-line shadows, the upper and lower shadows are longer, indicating stronger pressure above 47,000 and stronger support below 43,000, the short-term may continue to do narrow oscillations in the range. k-line is currently running between the lower and middle rails of the Bollinger band, gradually approaching the middle rail of the Bollinger band, the opening of the Bollinger band is basically unchanged. Volume was elevated last night and then tended to wane. the DIF is located in the DEA, and the multi-party momentum is marginally dominant. From a daily perspective, BTC is currently a short positive, the overall downward trend, the volume is slightly elevated, pay attention to the effective situation of the support below.
According to data from Huobi Global, ETH trend converged with BTC during the night and continued to oscillate. From the 4h line, the three averages are gradually converging and leveling off. k-line is running near the middle rail of the Bollinger band, and the opening of the Bollinger band is unchanged. The trading volume rebounded last night, DIF is located at DEA. From the daily point of view, ETH is currently a short-term positive line, with strong resistance at 3350 at the top and strong support at 3100 at the bottom. Continue to pay attention to the effectiveness of the support below and the subsequent trading volume.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures
decreaseed slightly, the volume decreaseed slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreaseed slightly, the volume decreased slightly, 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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