Morning Market Report September 9
BTC narrowly oscillates in the evening, focus on the support of 44500
According to data from Huobi Global, BTC oscillated narrowly around 46200 in the evening with sluggish volume. From the 4H level, it seems that after the sharp pinning that occurred the day before, the K-line flattened after a slight oscillation, the uptrend was suspended, the market moved towards stability, and the market needed to find the direction again. the EMA5 downside angle flattened, and the K-line failed to break through several times in a row, showing a blocking effect. The Bollinger band is not changing much, the DIF line is slowing down in angle and the absolute value of the Bar is decreasing. The market looks like it has pressed the pause button and the trend is unclear. Daily level, the BTC plunge and the subsequent day’s K-line have the characteristics of long shadows and short entities, indicating that the long and short forces towards equilibrium, the next development of the market needs to be driven by more external events, it is appropriate to wait and see. Intraday attention to changes in volume, attention to the support of 44500 and EMA5 blocking situation, if you can break through the EMA5, a new round of struggle or will begin, the trend will be clear.
According to data from Huobi Global, ETH rebounded slightly last night and fell slightly this morning. Generally speaking, the fluctuations were relatively small. From the 4h line, the three EMA lines are in a parallel trend. The k-line is lower than the lower rail of the Bollinger Bands, the Bollinger Bands expand and the transaction volume decreases. Judging from the daily line, ETH is currently a short positive line, located in the middle track of the Bollinger Band. At present, the price of ETH is stable, but from the perspective of weekly and monthly lines, the price of ETH is still at a high level, and the future trend is uncertain.
In terms of contracts, the big data of Huobi Futures showed that BTC contract holdings declined slightly, contract trading volume dropped significantly, and the contract market was inactive. The basis of the delivery contract decreased.ETH contract holdings dropped slightly, contract trading volume dropped significantly, and the contract market was not active. The basis of the delivery contract decreased.
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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.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
