Morning Market Report October 28
BTC oscillated low overnight, with strong support below 58000.
According to data from Huobi Global,BTC last night low oscillation, had a relatively strong support around 58000, and is located near 58800 now, sustainability remains to be observered. From the 4h line, EMA5 is located below EMA10, EMA20, shorts alignment; K-line is running near the lower rail of the Bollinger band, the Bollinger band opening is greatly expanded, the ends diverge; volume was enlarged yesterday night, DIF steeply down through DEA, the current gap between the two is relatively large, the shorts take the absolute advantage of potential energy, but there is a trend of decay. From the daily level, BTC is currently a short negative, short-term attention to the effective situation of 58000 support, if it can continue to maintain, the short-term upside trend may reopen.
According to data from Huobi Global, ETH night trend and BTC more convergent, continue to be in the low oscillation, below the 3900 support is strong. From the 4h line, currently located near 3920, EMA5 is located below EMA10, EMA20, shorts alignment; K-line is attached to the lower rail of the Bollinger band running, the Bollinger band opening significantly expanded, the ends diverge; volume in the night enlarged, DIF continues to be located below DEA, the shorts accounted for the absolute advantage. From the daily view, ETH is currently a short negative line, with long shadows above and below. From the volume situation, the trading volume was significantly enlarged yesterday, and the short-term concern is whether it can effectively stand stable at 3900 as well as the volume situation.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decrease slightly, the volume decrease significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures increase slightly, the volume decrease significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
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Investing in digital assets carries risks and this article does not constitute operational advice.
