Huobi Research
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Huobi Research

Evening Market Report(Feb.16)

BTC fluctuates sideways during daytime, pay attention to the 45000 pressure level above.

According to the data of Huobi Global, BTC climbed to a maximum of 44500 last night and encountered resistance. After that, it fluctuated sideways during daytime, changing directions several times, and now it is around 44000. Judging from the 4-hour K-line, the increase yesterday did not break through the 45500 pressure level formed by the previous round of rising. The pressure above was relatively large, the Bollinger Band expanded slightly, and the trading volume remained stable. From the daily level, this round of rising shows that long side still has the ability to break upward, After the rise last night, today’s downward adjustment is limited. It’s still in the rising channel. Pay attention to the breakthrough of 45000 above and the direction after the price adjustment.

According to the data of Huobi Global, ETH fluctuated slightly during daytime, as the same as the trend of BTC, and it is now around 3130. Judging from the 4-hour K-line, the increase last night was relatively steep, and long side potential was strong. Despite the large price changes yesterday, the trading volume remained stable. From the daily level, ETH has risen for several days, and it’s in the increasing channel. Pay attention to the breakthrough of 3280 above.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased. The volume kept stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures contracts decreased slightly. The volume kept stable, and the contract market was relatively inactive. The basis of futures contracts remained 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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Disclaimer

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2. The information and data cited in this report are from compliance channels. The sources of the information and data are considered reliable by the author, and necessary verifications have been made for their authenticity, accuracy and completeness, but the author makes no guarantee for their authenticity , accuracy or completeness.

3. The content of the report is for reference only, and the facts and opinions in the report do not constitute business, investment and other related recommendations. The author does not assume any responsibility for the losses caused by the use of the contents of this report, unless clearly stipulated by laws and regulations. Readers should not only make business and investment decisions based on this report, nor should they lose their ability to make independent judgments based on this report.

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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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