Morning Market Report September 29

BTC oscillated to the downside overnight as the downtrend line weakened.

According to data from Huobi Global, BTC oscillated downwards overnight, with the oscillation gradually increasing, and was supported above 40700, with volume slightly below the midday level. From the 4H level K-line chart, the blocking effect of the downtrend line of the last 3 days has weakened. the EMA5 has taken the lead in flattening, and the angle of decline of the remaining 2 EMAs has slowed down, so the price is expected to stop falling. The middle rail of the Bollinger band tilted slightly downward, the opening widened slightly, and the K-line gained support at the lower rail. Daily level, BTC is a small positive today, the recent price is weaker, the EMA5 blocking effect is strong. Day-to-day concern about the continuation of the rising market, there is no proximity of the obvious pressure level, 40700 support level in the near future is more effective, can continue to pay attention.

According to data from Huobi Global, ETH increased after a slight decline last night. From the 4h line, the three moving averages are still arranged in a short position; the k-line is located at the lower track of the Bollinger Bands, the opening of the Bollinger Bands is basically unchanged, and the trading volume during periods of higher decline has relatively increased. From the MACD line, the bearish momentum is dominant. CCI broke through the bottom line and then turned around and briefly entered the oversold range, indicating that the bottoming stage of the market price may be over, and it may enter a consolidation phase. From the daily point of view, ETH is currently a short-term positive line.

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

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