Morning Market Report September 30
BTC bounced off the overnight dip, watching for a break of 43400 and the middle Bollinger band.
According to data from Huobi Global, BTC fell to a low of 40,905.81 USDT in the evening yesterday, and started to pull up to a high of 43,191.61 USDT in the early morning. Looking at the 4H level K-chart, from September 24, the price may have entered a descending triangle range, suggesting the possibility of a downward price movement. The lower edge of this descending triangle is verified to be strong in support; however, the strength of the upper edge of the block remains to be verified. ema are oscillating to varying degrees, with ema5 currently trending up through ema10. The middle rail of the Bollinger band is flattened, the opening is slightly expanded, and the K-line is rushing up to the middle rail. Need to pay attention to whether the price can stabilize above the middle rail for a long time, if it can, there is a possibility of challenging the upper edge of the triangle. Daily level, BTC ushered in two consecutive positive, today is a medium positive, the upper shadow line is short, there is currently not too much resistance. Daytime concern for the continuation of the rising market, pay attention to the block of 43400 (the upper edge of the descending triangle) and the support of the middle rail of the Bollinger band.
According to data from Huobi Global, ETH had a U-shaped reversal last night after the same dip and then rebound. Looking at the 4H level K-line, ETH looks more like an upward flag shape, with a slightly stronger price action than BTC. The middle rail of the Bollinger band is flattened, the opening is slightly widened, and the K-line is rushing up to the middle rail. From a daily perspective, ETH is currently a medium-positive line, again with two consecutive positives. Day-to-day concern about the continuation of the rising market, no proximity of the obvious pressure level above, concern about the support of the middle rail of the Bollinger band.
In terms of contracts, the data of Huobi Futures showed that the BTC contract open interests decreased slightly, the contract volume increased slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.
ETH contract open interests increased slightly, contract trading volume increased slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.
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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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