Morning Market Report September 16

According to data from Huobi Global, BTC shifted sideways after a small rise overnight, and fell back after a small increase in volume. From the 4H level, it seems that BTC’s short-term uptrend line support is weakening, and the price climbed back up after falling below the trend line during the day, but then fell again in the early morning, and later the trend line also showed a blocking effect. On the other hand, the price broke through the resistance level of 47500, if it can stand firm in the short term, it is possible to use this as a section of the step to continue the upward movement. the support role of EMA5 began to show, the middle rail of Bollinger band upward, the opening expanded, MACD double line are back above the 0 axis, Bar narrowed, the price uptrend slowed down. From the daily level, today BTC ushered in the first negative after two consecutive positive, the price is near the middle rail of the Bollinger band, if the support role of the middle rail is strong enough, the probability of the market turning up will increase. Intraday concern about the continuation of the down market, pay attention to the 47500 support situation and the 48500 block situation.

According to data from Huobi Global, ETH rose slightly at night by 2.57%, continuing the pattern of yesterday. From the 4h line, the openings of the three moving averages gradually increase, and EMA5 is higher than EMA10 and EMA20. The k line surpasses the upper rail of the Bollinger band, and the opening of the Bollinger band is enlarged. The trading volume is relatively sluggish. From the perspective of the super trend indicator, a buy signal was shown early in the morning. From the daily perspective, the ETH price rebounded slightly today and is located in the middle of the Bollinger Band.

In terms of contracts, the big data of Huobi Futures showed that the BTC contract holdings remained basically unchanged, the contract volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.

ETH contract holdings increased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract is stable.

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.

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

Blockchain industry top think tank, affiliated to Huobi Group.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

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