Morning Market Report September 18
BTC sideways oscillation overnight, focus on the middle of the BB and the breakthrough of 46750.
According to data from Huobi Global, BTC has been oscillating sideways around 47300 overnight on depressed volume. From the 4H level, it seems that BTC is still in a short-term descending channel and price pressure persists. The 2 K lines in the early morning both had long lower shadows, indicating stronger support below and a decreasing probability of the price touching the bottom of the channel. 3 EMAs are closer together and the middle rail of the Bollinger band is flattening upwards, the K line fell from the middle rail in the evening, after which the middle rail showed some blocking effect and the Bollinger band opening continued to narrow. The lower Bollinger band, the middle rail and the parallel channel form a narrow space, and without a significant change in volume, the price may do narrow oscillations within this space. At the daily level, BTC is a very short solid hammer line today, with prices near the bottom of the middle rail of the Bollinger band, again needing to break through the middle rail’s block first. Intraday attention to the continuation of the rising market, attention to the middle rail of the Bollinger band and the block of 46750.
According to data from Huobi Global, ETH showed an overall downward trend at night, with a slight correction at 8am. From the 4h line, the K line oscillated around EMA5, and the EMAs tended to be flat. The k line is located on the lower rail of the Bollinger Band, and the opening of the Bollinger Band tend to be narrow. The trading volume is relatively sluggish, and the super trend line is located at the lower end of the bar. From the daily point of view, ETH is currently a short-term positive line, and has shown a downward trend in general recently, and this trend may continue today.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings decreased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the futures contract is relatively high.
ETH contract holdings decreased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the futures contract is relatively high.
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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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