Morning Market Report July 7
BTC fell rapidly and then moved sideways in the evening. Pay attention to the support of 33500 below.
According to the data from Huobi, BTC briefly broke through 35000 where the resistance was strong, and then fell rapidly, reaching the current 34000. It is now moving sideways and the trading volume is relatively sluggish. In day level of picture, BTC ushered two consecutive positives, but the increase is not significant. The resistance is strong as well.
In four-hour level of picture, the K-line is basically stay below EMA20, crossing EMA5 and EMA10 more than once. All EMAs tend to flatten. Moreover, EMA5 and EMA10 tend to coincide. 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. The market may continue to move sideways in the short term. DIF is continuously stay below DEA, both of which are negative. However, the absolute value is small and both of them tend to flatten, indicating the market may continue to move sideways. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 35000 above and the support of 33500 below.
According to the data from Huobi, ETH fell rapidly first, reaching the lowest 2254.16 USDT, and then fluctuated to rise. It is currently moving sideways around 2320 for a short period of time and the trading volume fell after a shortly rise. In day level of picture, ETH ushered two consecutive positives, recovering the last decline. In four-hour level of picture, the K-line is continuously stay above EMA5, EMA10 and EMA20. All EMAs move upward smoothly. From the analysis of the Bollinger Bands, the K-line is located between the upper rail and the middle rail, approaching the upper rail. All rails move upward. The bandwidth remains stable. In the early morning, DIF crossed DEA to form a golden cross, both of which were positive. The upward energy strengthened. In the afternoon, pay attention to the changes of the trading volume and the breakthrough of 2400 above and the support of 2250 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 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 increased slightly.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
