Evening Market Report November 10
BTC is lightly corrected during the day, need to pay attention to the pressure level above 67700.
According to data from Huobi Global, BTC dropped slightly to 66400 during the day and then stabilized. Volume has been at a low level, indicates that the market is relatively stable and there are few opportunities. From the 4h K-line, the strong upward momentum of the 8th has been exhausted, and the downward momentum in the past two days is accumulating. In the short term, a new round of downward adjustment may occur (seeing from the 1h line, the price support points and barrier points have been broken down multiple times). The EMA lines began to gather, and the Bollinger band openings shrank. In order to verify whether the downward adjustment trend is established, pay attention to the blocking situation of 66700 and the support situation of 66250. DIF crosses DEA in the morning, forming a signal that short side potential energy dominates.
According to data from Huobi Global, the price of ETH adjusted slightly during the day and is currently stable at around 4700. As the amplitude of the vibration decreased. From the 4h K line, The crossover between the EMA lines has been completed, the Bollinger band openings shrank. Downward trend is relatively stable in the short term, but the downward adjustment will be slight. From the daily level, from a longer perspective, the price of ETH is undergoing a slight downward adjustment in order to getting ready for the next round of rise.
In terms of contracts, the data of Huobi Futures shows that BTC contract open interest remained unchanged, contract trading volume remained unchanged, and the contract market is relatively inactive. The basis of the delivery contract remained basically unchanged.
ETH contract holdings decreased significantly, contract trading volume was basically unchanged, and the contract market was relatively inactive. The basis of the delivery contract remained basically unchanged.
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Investing in digital assets carries risks and this article does not constitute operational advice.
