Morning Market Report July 13
BTC fell rapidly. Pay attention to the support of 32500 below.
According to the data from Huobi Global, BTC fell rapidly last night, breaking the lower edge of previous consolidation interval. The lowest is 32660.00 USDT. In the early, BTC rebounded slightly. It is currently moving sideways around 33000 for a short period of time. The trading volume increases first and then decreases. In day level of picture, BTC ushered two consecutive negatives but it is at a relatively low level now with a strong resistance.
In four-hour level of picture, the K-line crossed EMA5, EMA10 and EMA20 last night, with the trading volume increasing shortly, which means the downward energy was strong. After that, the K-line continuously stays below all EMAs. EMA5 crosses EMA10 and EMA20 to form a dead cross. All EMAs move downward steeply. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail, approaching the lower one. It briefly broke the lower rail in this morning with the trading enlarging significantly. So the market was “oversold” and it rose slightly. However, the middle rail and the lower rail move downward and the bandwidth tends to expand. BTC may fluctuate more greatly in the short term and is still in downward trend. DIF crosses DEA to form a dead cross, both of which turn from positive to negative. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 33500 above and the support of 32500 below.
According to the data from Huobi Global, ETH continued to fall last night, reaching the lowest 2007.00 USDT. It is now moving sideways around 2050 for a short period of time. The trading volume increases and then decreases. In day level of picture, ETH ushered two consecutive negatives, which was at relatively low level. In four-hour level of picture, the K-line stays below EMA5, EMA10 and EMA20. All EMAs move downward steeply. From the analysis of the Bollinger Bands, the K-line is now located between the lower rail and the middle rail, both of which move downward and the bandwidth tends to expand. DIF crosses DEA to form a dead cross, both of which were negative. The downward energy becomes stronger. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2100 above and the support of 1950 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased 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 decreased slightly.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
