Morning Market Report August 16
BTC rose and fell at the weekends. Pay attention to the changes of trading volume.
According to the data from Huobi Global, BTC first rose rapidly on Saturday, reaching the highest 48147.48 USDT, and then fell slightly below 45500 USDT. In this morning, it rose rapidly, covering the weekends’ decline. It is currently moving sideways around 47500 and the trading volume is relatively sluggish. In day level of picture, BTC continued its upward trend, locating at a relatively high level.
In four-hour level of picture, the K-line crosses EMA20, EMA10 and EMA5 in turn. All EMAs move upward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, indicating the long sides are dominant. Both the middle rail and the lower rail move upward. The bandwidth tends to shrink. The market may fluctuate to rise in the short term. KDJ shows a gold cross and DIF reverses its downward trend, which may cross the DEA to form a gold cross. So the long sides are getting stronger and BTC may rise. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 48500 above and the support of 46500 below.
According to the data from Huobi Global, ETH continued to fall at first, reaching the lowest 3111.00 USDT. In this morning, it rose rapidly, covering the previous decline. It is now moving sideways around 3300 and the trading volume is relatively sluggish. In day level of picture, ETH is now a short positive. In four-hour level of picture, the K-line is above each EMA. All EMAs tend to move upward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail. The bandwidth tends to shrink. KDJ shows a gold cross signal and DIF may cross DEA, indicating the long sides are getting stronger. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3400 above and the support of 3200 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 decreased 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 decreased slightly.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
