Morning Market Report July 6
BTC continued to move sideways last night. Pay attention to the support of 33000 below.
According to the data from Huobi, BTC continued its downward trend last night, reaching the lowest 33128.99 USDT, and then started to rebound. It is now moving sideways around 34000 and the trading volume is not enlarged significantly. In day level of picture, BTC had a medium negative with strong resistance. It is now a short positive, recovering 1/3 of yesterday’s decline.
In four-hour level of picture, the K-line is always stay below EMA10 and EMA20, crossing EMA5 more than once. All EMAs descend steadily. From the analysis of the Bollinger Bands, the K-line is located between the middle rail and the lower rail, approaching the middle rail. All rails tend to flatten and the bandwidth has no trend of increase or reduction. DIF that turns from positive to negative is continuously stay below DEA, both of which move downward. DEA may turn into negative and the difference between the two enlarged slightly, indicating the market has a stronger downward energy. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 34500 above and the support of 33000 below.
According to the data from Huobi, ETH and BTC moved in roughly the same direction. ETH fell first and then rebounded slightly. The upper edge of the consolidation interval was 2250 and the lower edge was 2150. It is currently moving sideways and the trading volume is relatively sluggish. In day level of picture, ETH had a medium negative yesterday. It is now a short positive and ETH rebounded slightly. In four-hour level of picture, the K-line is basically stay below EMA10, crossing EMA5 and EMA20 more than once. EMA5 and EMA20 tend to coincide and all three EMAs tend to flatten. From the analysis of the Bollinger Bands, the K-line is located between the lower rail and the middle rail, crossing the middle rail. All rails tend to flatten. The bandwidth tends to shrink. DIF is continuously stay below DEA, both of which move downward but still are positive. The difference between the two expands first and then shrink, indicating the energy of the increase market is insufficient. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2300 above and the support of 2150 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.
