Huobi Research
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Huobi Research

Evening Market Report(Dec.31)

BTC price increased during daytime, pay attention to the momentum of growth.

According to data from Huobi Global, the price of BTC has stabilized at around 47,000 in the morning and started to rise in the afternoon. It is now around 48,200. Long side is temporarily dominant. However, the short-term pressure is still high, and it may be difficult to break through the upper 51,000 pressure level. Looking at the 4-hour K-line, the EMA line turned upwards, the Bollinger Bands opening contracted sharply, DIF crossed DEA, and the transaction volume increased slightly. This increase eased the downward pressure on prices. The upward momentum is still unclear. From the daily level, the upward movement volume is relatively weak. In the short term, pay attention to the upward speed and breakthrough situation.

According to data from Huobi Global, ETH previously fluctuated up and down at 3750 and changed directions several times. This afternoon, long side temporarily dominated, with price having a small increase, and is now at around 3800. From the 4h k-line, the k-line runs near the middle track of the Bollinger Bands, and the transaction volume has increased slightly. The momentum of upward movement is not clear yet,due to insufficient time. In the short term, pay attention to upward movement and upward pressure. From the daily level, ETH today reversed the three-day downward trend, but there is still a long distant to break through the 4130 pressure level above.
In terms of contracts, the data of Huobi Futures showed that the BTC contract’s open interest remains unchanged, while the contract volume increased, and the contract market is relatively inactive. The basis of delivery contracts is basically stable.

The ETH contract holdings remains unchanged, the contract trading volume increased, and the contract market is relatively inactive. The basis of the delivery contract is basically stable.

About us

Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, Model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.

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