Morning Market Report September 23
BTC rebounded overnight, watch for a break of EMA5 and 44000.
According to data from Huobi Global, BTC rose slowly after a small rally last night. BTC broke through the downtrend line at noon yesterday, then had a confirmation backpedal before the price started to move up before touching the trend line, showing that the downtrend of recent days is coming to an end. Prices oscillated in the late afternoon and again in the evening after a small pull-up. The early morning was a fierce battle between long and short, (the 1H line has a star with a long upper shadow) with a large increase in volume for a short time, followed by a price shock to the upside. Price broke through EMA5, EMA5 and EMA10 formed a golden cross and the 3 EMAs are very close together and it is not clear that they can turn into an uptrend. The Bollinger band middle rail continues downward, the opening narrowed, the K-line near the middle rail, after the middle rail flattened, this section of the short-term down market may come to an end. RSI back above 30, the market out of extreme weakness. At the daily level, BTC is a small positive today, EMA5 began to slow down, still in the downtrend. The intra-day focus is on the continuation of the up market, the support of the EMA5 and the blocking of 44000.
According to data from Huobi Global, ETH has rebounded slightly last night, and its trading volume has declined compared with yesterday. Judging from the daily level, ETH rebound slightly for the first time after being adjusted downwards for four consecutive days. From the four-hour level, the K line is above each EMA, and EMA5 crosses EMA10 to form a golden cross. From the perspective of the Bollinger Bands, the K-line is located on the middle track, and the Bollinger Bands have narrowed their openings. We should continue to pay attention to the changes in trading volume.
In terms of contracts, the big data of Huobi Futures showed that the BTC contract holdings are stable, the trading volume fluctuates, and the contract market is not active. The basis of delivery contracts dropped slightly.
ETH contract holdings are basically stable, the trading volume fluctuates, and the contract market is inactive. The basis of delivery contracts dropped slightly.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
