Morning Market Report November 4
BTC rallied quickly from strong support around 60,000 in the early morning.
According to data from Huobi Global, BTC rallied quickly from strong support around 60,000, and now is near 62800. From the 4h line, EMA5 is located in EMA10, EMA20, the three tend to bond, k line in the Bollinger band mid-rail running, Bollinger band opening slightly shrunk; volume has been enlarged overnight, DIF and DEA overlap, the long momentum gradually weakened, continue to pay attention to the volume situation. From the daily level, BTC is currently a short positive line, with a longer shadow below, continuous oscillation in the 60000–64000 range for many days, the upward trend has not been broken, short-term attention to the volume situation and the breakthrough above.
According to data from Huobi Global,ETH oscillated at a high level overnight, hitting new highs in a row, with strong pressure near 4700. From the 4h line, EMA5 is located above EMA10 and EMA20, and the trend of the three is flat; the K-line is running between the upper and middle rails of the Bollinger band, and the opening of the Bollinger band is basically unchanged; the volume has not changed much, and DIF is still located in DEA, but there is a downward trend, and the multi-party potential is gradually weakening. From a daily perspective, ETH is currently a short positive line, has achieved four consecutive positive, short-term attention to continue to focus on the maintenance of the upward trend and the volume situation.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures
remained stable, the volume increase slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreased slightly, the volume remained stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
About Huobi Research
Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
Follow Us
Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
