Huobi Research
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Huobi Research

Evening Market Report(Dec.21)

BTC continued to rally throughout the day.

According to data from Huobi Global, BTC continued to rally throughout the day. Looking at the 4-hour level K-line, the price was under pressure in the early morning and then rose rapidly all the way up until the upper boundary of the channel was broken in the late afternoon, when the rapid pull-up trend was temporarily suspended. The price failed to stay outside the upper boundary for a longer period of time, indicating that the downward trend is still hot and strong. In particular, the last K-line has a long upper shadow line, suggesting that the market may still face downward pressure. On the daily level, BTC is currently a medium positive line. Yesterday’s K-line was just close to the downtrend line and rebounded strongly, so you can basically tell that the fast downtrend is about to end. In the evening to focus on whether the price down, the upper boundary of the downward channel is the price pressure level, you can set the stop-loss level at 49500.

According to data from Huobi Global, the price of ETH rose slightly within a day and is now near 4000. From the 4h line, today’s price rebound has been relatively strong, basically covering the decline yesterday night. The bullish momentum is strong, and the trading volume has increased. Judging from the daily line, ETH presents a medium positive line today. Exchange transfers have increased significantly, and ETH is looking for profitable selling opportunities, which corresponds to the channel of price decline, but the price of ETH has also risen driven by the increase in BTC price.

In terms of contracts, the data of Huobi Futures showed that the BTC contract’s open interest remains unchanged, while the contract volume declines, and the contract market is relatively inactive. The basis of the delivery contract is basically stable.
The ETH contract holdings remained unchanged, the contract volume declined, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.

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Blockchain industry top think tank, affiliated to Huobi Group.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

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