Morning Market Report August 10
BTC oscillated at a relatively high level. Pay attention to the changes of the trading volume.
According to the data from Huobi Global, BTC continued its intraday increase last night, oscillating up to 46711.00 USDT. It fell slightly this morning but is still above 45000. The trading volume is at a normal level. In day level of picture, BTC had several consecutive positives recently. It is now moving sideways to digest the previous upward momentum, which is a normal callback.
In four-hour level of picture, the K-line basically stays above all EMA which move upward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, approaching the upper one. All rails move upward. If the bandwidth continues to expand, BTC may oscillate to rise in the short term. KDJ is getting close to the overbought zone so BTC may be adjusted to a certain extent. However, DIF and DEA are sticking at the same level and the long sides bar does not decrease significantly. Therefore, the rising market has no obvious signs of reversal. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 47000 above and the support of 44500 below.
According to the data from Huobi Global, ETH rose rapidly, approaching 3200 USDT and then fell slightly. It is currently moving sideways around 3100. The trading volume is at a normal level. In day level of picture, ETH is in a narrow upward channel. In four-hour level of picture, the K-line basically stays above EMA10 and EMA20. All EMAs move upward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. The lower rail is now moving upward smoothly and the bandwidth tends to shrink. KDJ is approaching the overbought zone. DIF stays below DEA, both of which are positive and move downward. The short sides bar tends to increase now. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3250 above and the support of 3000 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly. The trading volume decreased slightly and the market is inactive. The basis of futures contracts increased slightly.
The open interest of ETH futures contracts increased slightly. The trading volume decreased slightly and the market is inactive. The basis of futures contracts increased slightly.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
