Morning Market Report July 20
BTC fell rapidly last night. Pay attention to the support of 30000 below.
According to the data from Huobi Global, BTC continued its intraday downward trend last night. The trading volume was significantly enlarged. The short side was strong, leading to a rapid fall. The lowest was 30402.23 USDT. It is currently moving sideways around 30500 for a short period of time, and the downward channel opened again. In day level of picture, BTC ushered four consecutive negatives, with a strong resistance. The intraday market may continue to fall.
In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20, breaking the lower edge of previous consolidation interval. All EMAs move downward steeply. From the analysis of the Bollinger Bands, the K-line, which briefly broke the lower rail, is located between the lower rail and the middle rail. Both the two rails move downward. The bandwidth expanded slightly. BTC may fluctuate to move downward in the short term. DIF crosses DEA to form a dead cross, both of which are negative and move downward. The downward energy is getting stronger. CCI crosses the -100 line, entering a downward trend. In the afternoon, pay attention to the continuation of the downward trend and the breakthrough of 31500 above and the support of 30000 below.
According to the data from Huobi Global, ETH continued to fall last night, reaching the lowest 1777.52 USDT. The trading volume was enlarged first and then decreased. In day level of picture, ETH ushered two consecutive negatives. In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20. All EMAs move downward steeply. From the analysis of the Bollinger Bands, the K-line is located between the lower rail and the middle rail, approaching the lower one. Both the two rails move downward and the bandwidth is expanded. DIF crosses DEA to form a dead cross, both of which are negative. CCI crosses the -100 line. In the afternoon, pay attention to the of the continuation of the downward trend and the breakthrough of 1850 above and the support of 1700 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 decreased 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.
