Morning Market Report September 15
BTC rose slightly overnight, watching for a break of the rising trend line and 47500.
According to data from Huobi Global, BTC continued to rise during the night with low volume. From the 4H level, it seems that BTC short-term uptrend is obvious, last night broke through the 46200 and 46500 block in succession, the price is in the upper edge of the recent narrow oscillation range, the trend line inclination angle increases, short-term uptrend. after the pin on September 7, the price 4 times in 47500 by resistance, and the trend line is approaching 47500, today we need to pay attention to the relative strength of these two, to see the market is an upward breakthrough or re-oscillation. The 3 EMAs have been adjusted into a long alignment, the Bollinger band is slightly upward, the opening is expanding, the MACD double line continues upward, the DIF is back above the 0 axis, the Bar is increasing, the long and short forces are moving towards equilibrium, the RSI returns to above 50 and shows an uptrend. At the daily level, BTC is currently a small positive line, and yesterday broke through EMA5 in one fell swoop, easing downside pressure. Intraday attention is paid to the continuation of the upward trend line support and the block at 47500.
According to data from Huobi Global, the price of ETH fluctuated slightly between 3300–3450 last night, showed an upward trend, the SuperTrend indicator appeared above the current price and appeared in red, generating a sell signal. It should be noted that this indicator will be distorted in the long-term volatile market, please treat it with caution. From the daily level, ETH is currently a short-term positive line, but it is still in a narrow downward channel. Looking at the four-hour level, the EMAs tend to be flat. Viewed from the Bollinger Bands, the K line is located between the middle rail and the upper rail, and the bell mouth has no obvious change.
In terms of contracts, the big data of Huobi Futures showed that BTC contract holdings decreased slightly, trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract remains unchanged.The ETH contract holdings increased slightly, the trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract remained unchanged.
About Huobi Research
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.
Investing in digital assets carries risks and this article does not constitute operational advice.