Evening Market Report October 11
BTC is shaking sideways after a small rise, watching for a breakout at 56,500 and 54,100.
According to data from Huobi Global, BTC is shaking sideways after a small daytime gain, with a small increase in volume before falling back. Looking at the 4H level K chart, from early this morning to now is the first round of market engagement after a few days of silence. The short side suppressed the multiple sides in the early morning, but the multiple sides were more resilient and swallowed the previous decline in one fell swoop in the morning, and by late afternoon the two sides temporarily eased their exchanges. The price broke through the upper edge of the oscillation range in the morning and lunchtime, and is now falling back, with the pressure on the upper edge of the range weakening. k first has remained above the EMA5 since the afternoon, the Bollinger band began to expand, the DIF line turned upward and is about to penetrate the DEA, the market balance has signs of imminent break. From the daily level, BTC is currently a small positive line, the uptrend is continuing. The evening is concerned about the continuation of the rising market, the block of 56500 and the support of 54100.
According to data from Huobi Global, ETH has shown a slight upward trend within the day. From the 4h line, the three EMA lines are gradually approaching, and the k line rises to the middle of the Bollinger Band, presenting a bearish reversal pattern blocked in the front; DIF is located below DEA, the gap is gradually narrowing, and the bearish potential is weakened. Judging from the daily line, ETH is currently a short-term positive line, and the main Oscillation index are all within the normal range.
In terms of contracts, the data of Huobi Futures showed that the BTC contract holdings remained basically 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 remained basically unchanged, contract trading volume declined 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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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
