Morning Market Report July 9
BTC continued to fall after a shortly rebound. Pay attention to the support of 32000 below.
According to the data from Huobi, BTC returned to above 33000 last night. In this morning, it continued to fall, breaking through the lower edge of the previous consolidation interval. It is currently moving sideways around 32500 for a short period of time. The trading volume is relatively sluggish. In day level of picture, BTC ushered two consecutive negatives. It is now at a relatively low level.
In four-hour level of picture, The K-line is always stay 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. In the evening, it briefly broke through the lower rail and the market was “oversold”, and then it rebounded slightly. In this morning, the short sides started to counter back, so the K-line fell rapidly and was approaching the lower rail. Both the lower rail and the middle rail move downward and the bandwidth tend to expand, indicating the market may move downward. DIF is continuously stay below DEA, both of which are negative. Moreover, they move downward and the difference is enlarging, indicating the downward energy is strong. In the afternoon, pay attention to the continuation of the downward trend and the breakthrough of 33000 above and the support of 32000 below.
According to the data from Huobi, ETH continued to fall last night, reaching the lowest 2047.00 USDT. It is now moving sideways around 2080 for a short period of time. The trading volume is not enlarged significantly. In day level of picture, ETH ushered two consecutive negatives, which was at recent low level. In four-hour level of picture, the K-line is continuously stay 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. The bandwidth tends to expand. At present, the market is “oversold”, so ETH may rebound slightly in the short term. However, the middle raid and the lower rail move downward. The market is still in downward trend. DIF which turns from positive to negative is continuously stay below DEA, which is in downward trend and may turn into negative too. The difference between them expands as well. It can be concluded that the downward energy is strong. In the afternoon, pay attention to the continuation of the downward trend and the breakthrough of 2100 above and the support of 2000 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 remained stable. 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.
