Evening Market Report November 9
BTC bounced back after retreating, watch for breakout at 68500 and 66500.
According to data from Huobi Global, BTC hit a new high in the morning, reaching 68,500 USDT, before falling back slightly in the afternoon and rebounding in price towards the evening, only slightly below the high. Volume has increased, but not significantly, suggesting that the market momentum has not been fully released. From the 4h K-line, the very strong uptrend started yesterday is slightly attenuated, the overall trend is still up. The support of EMA5 is obvious, the Bollinger band opening suddenly expands significantly, there are certain trading opportunities within the upward channel of the Bollinger band. At the daily level, BTC is currently a small positive line with a short upper shadow, indicating that there is little resistance above and the possibility of a sustained price push higher. If you consider the rise from September 30 as a set of waves, the rise from November 7 to the present can be considered the first wave of wave 3, indicating that the price has room to rise, and can be considered for intervention during the adjustment. Intraday attention to the continuation of the rising market, pay attention to the blocking situation of 68500 and the support situation of 66500.
According to data from Huobi Global, the price of ETH is stable during the day, fluctuating between 4750–4850, and the trading volume has dropped compared to previous days. From the 4h K line, the short-term moving average is slightly higher than the medium and long-term moving average. The most recent candle line shows that the long and short sides have equal potential, indicates that the market will not fluctuate sharply in the evening. At the daily level, ETH presents a short-term positive line, and the price increase has declined compared with the previous few days. There is no sign that the price is about to fall.
In terms of contracts, the data of Huobi Futures shows that BTC contract open interest has increased, contract trading volume has decreased, and the contract market is relatively inactive. The basis of the delivery contract remained basically unchanged.
ETH contract holdings remained unchanged, contract trading volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract remained basically unchanged.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
