Morning Market Report August 9
BTC rose and fell. Pay attention to the changes of the trading volume.
According to the data from Huobi Global, BTC broke through above 45000 where BTC fail to stabilize on Saturday and the overall rise was relatively smooth. On Sunday afternoon, the short sides began to counter back, contributing to a rapid fall. BTC is currently oscillating around 43000 and the trading volume is at a normal level. In day level of picture, BTC had two consecutive positives. It is now a short negative, covering 1/2 of the previous increase. If BTC is not effectively supported, the intraday market may fall further.
In four-hour level of picture, the K-line first stays above each EMA. In this morning, the K-line moved downward rapidly, contributing to a dead cross signal of EMA. EMA5 moves downward steeply. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the upper rail, oscillating around the middle rail now. The bandwidth remains unchanged. BTC may oscillate to rise in the short term. DIF crosses DEA to form a dead cross, both of which are positive. The short sides bar is increasing. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 44500 above and the support of 42000 below.
According to the data from Huobi Global, The trend of ETH and BTC is basically the same. ETH rose rapidly at the weekend, reaching the highest 3200 USDT and then quickly fell back. It is currently moving sideways around 2900. The trading volume is at a relatively high level. In day level of picture, ETH ushered in two consecutive negative, covering 2/3 of the previous decline. In four-hour level of picture, the K-line crosses each EMA in turn. So a dead cross signal appears in EMA. All EMAs move downward. From the analysis of the Bollinger Bands, the K-line is now oscillating around the middle rail. All rails tend to flatten and the bandwidth remains unchanged. DIF crosses DEA to form a dead cross, both of which are positive and move downward. The short sides bar is increasing now. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 3100 above and the support of 2800 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 remained stable. 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.
