Morning Market Report August 12
BTC continued to move sideways. Pay attention to the changes of trading volume.
According to the data from Huobi Global, BTC continued the intraday sideways trend. The upper edge of the consolidation interval was 46500 and the lower edge was 45500. In this morning, it rebounded and has returned to above 46000. The trading volume falls slightly. In day level of picture, BTC is now a short negative. However, the overall upward trend market has not changed significantly.
In four-hour level of picture, although the K-line is alternately bonded with each EMA, it is strongly supported by EMA20. All EMAs tend to be flat. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, which fails to break through the middle rail more than once. The bandwidth remains unchanged, indicating BTC may tend to be flat in the short term. DIF stays below DEA, both of which move downward and have no trend of reversing. Therefore, the long sides are not active now and the rebound may be limited. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 47000 above and the support of 45000 below.
According to the data from Huobi Global, ETH continued to move sideways last night, which has released part of callback pressure. The upper edge of the consolidation interval was 3250 and the lower edge was 3150. It is now moving sideways around 3200 and the trading volume falls. In day level of picture, ETH is now a short negative but the overall trend has not changed. So it still in a narrow upward channel. In four-hour level of picture, the K-line is strongly supported by EMA20. All EMAs tend to be flat. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. The bandwidth remains unchanged. DIF stays below DEA, both of which are positive and tend to be flat. The short sides bar does not increase significantly. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3300 above and the support of 3100 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The trading volume decreased slightly and the market is inactive. The basis of futures contracts increased slightly.
The open interest of ETH futures contracts decreased 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.
