Evening Market Report October 25
BTC is up slightly, watch for a breakout at 61800 and 63800.
According to data from Huobi Global, BTC continued its morning upward trend in the late afternoon, with the price reaching a high of 62,978 USDT, and the volume remained at a low level. From the 4h K-line, today’s price rebound is strong. ema5 has penetrated ema10 and ema20, while ema10 is about to penetrate ema20; the bollinger band opening remains unchanged, the price is approaching the upper rail; DIF has also penetrated DEA. these signs indicate that the price has come out of the short-term decline, but the volume is still at a low level, presumably the price rebound is more of an natural recovery after the decline, to form a more obvious uptrend remains to be seen. At the daily level, today’s K-line is a medium-positive line, engulfing yesterday’s decline and returning above the EMA5. Looking at the daily volume, it looks more like the long and short sides are entering a temporary truce and prices are returning to a relatively steady state. Watch the continuation of the rising market in the evening, pay attention to the support at 61800 and the block at 63800. If it effectively breaks through 63800, prices can be considered to have returned to an uptrend.
According to data from Huobi Global, ETH rose slightly during the day. From the 4h line, the K line is located between the upper and middle tracks of the Bollinger Bands. The opening of the Bollinger Bands is slightly reduced, the trading volume drops slightly, and the short side potential is weakened. The CCI indicator briefly broke through +100 and then returned to the normal range. From the daily line, ETH is currently a short-term positive line, and the price has fluctuated in the high range in the past five days. In the short term, it is expected to stand at 4000.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings increased slightly, contract trading volume decreased slightly, and the contract market was relatively active. 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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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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