Evening Market Report（Dec.17）
BTC’s daytime price fell, short side remained stable.
According to data from Huobi Global, after the BTC price fell overnight yesterday, it adjusted slightly in the morning. However, it fell again during daytime, with the lowest position of 46,500. And is now around 47,000. Judging from the 4h K-lines, this round of decline is completely within the decline range formed in the past few days, which once again shows the steady decline trend of BTC price. So far, three successively decreasing maximum points have been formed. The BTC price of this trend is expected to break down to around 46,000. The trading volume is still sluggish. At the daily level, BTC’s recent decline has slowed down, but it is still difficult to break out the downward range. Pay attention to the 46,000 pressure level downsides in short term.
According to data from Huobi Global, the price of ETH continued to fall during daytime, which was the same as BTC. And is now around 3880. From the 4h k-lines, the pressure level above 4170 is strong, and the last round of rebound did not successfully break through. The price is expected to fall after a slight adjustment in the future. The volume has been magnified but still not obvious. From the daily level, the price has been pulled back to the downward range, and focus is on the strength of the support in short term.
In terms of contracts, the data of Huobi Futures showed that BTC contract holdings was roughly the same, contract trading volume kept stable, and the contract market was relatively inactive. The basis of the delivery contract is stable.
ETH contract holdings was stable, contract trading volume kept the same, and the contract market was relatively inactive. The basis of the delivery contract is stable.