Morning Market Report July 21
BTC continued to move sideways at a low level. Pay attention to the support of 29000 below.
According to the data from Huobi Global, BTC continued to move sideways last night. The lower edge of the consolidation interval was 29500 and the upper edge was 30500. The trading volume was at a relatively high level. Both sides were competing fiercely. It is currently moving sideways around 29500 for a short period of time, and shortly fluctuation may continue. In day level of picture, BTC ushered five consecutive negatives. The market is in a downward trend.
In four-hour level of picture, the K-line basically stays below EMA5, EMA10 and EMA20. All EMAs move downward. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail. All rails move downward. The bandwidth expands slightly. BTC may continue to move downward in the short term. DIF continuously stays below DEA, both of which are negative and move downward. The downward energy is getting stronger. In the afternoon, pay attention to the continuation of the downward trend and the breakthrough of 30500 above and the support of 29000 below.
According to the data from Huobi Global, ETH continued to move sideways last night. The lower edge of the consolidation interval was 1720 and the upper edge was 1820. The trading volume was at a relatively high level. In day level of picture, ETH ushered three consecutive negatives. In four-hour level of picture, the K-line basically stays below EMA10 and EMA20, moving around EMA5. All EMAs move downward. From the analysis of the Bollinger Bands, the K-line is located between the lower rail and the middle rail. All rails move downward and the bandwidth is expanded. DIF continuously stays below DEA, both of which are negative. 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 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 remained stable. 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.
