Morning Market Report September 17

BTC rise is weak, focus on the support below 47000.

According to data from Huobi Global, BTC rose feebly and failed to break through the 48500 line. The K-line is running near the EMA5 and EMA10, the support level below 47000 is more effective, the average line tends to be horizontal and gradually close together. the K-line is running near the middle of the Bollinger band, the Bollinger band opening is slightly reduced. Volume is relatively sluggish, DIF has a downward trend through DEA, the multi-party momentum gradually weakened. From the daily level, BTC is currently a short negative, belonging to the normal retracement of the rise, the volume has declined compared to the previous days, short-term or pullback demand, pay attention to the support situation below.

According to data from Huobi Global, ETH fell slightly overnight and is now in a slight oscillation, after yesterday’s upward pattern failed to hold. Looking at the 4h line, the three averages tend to level off, the k-line is running above the middle rail of the Bollinger band, which is opening parallel to the upside. Volume is relatively depressed, DIF is located above DEA, but the gap between the two pulling apart is reduced. From a daily perspective, ETH is currently a short negative line, above 3650 resistance is strong, continue to pay attention to the effective situation of the support below and the subsequent volume situation.

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

The open interest of ETH futures increaseed slightly, the volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts remained 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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Disclaimer

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

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