Huobi Research
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Huobi Research

Evening Market Report(Feb.22)

BTC rose slightly in the day, pay attention to the support of 36300 below.

According to data from the Huobi Global, BTC fell sharply this morning and was supported near 36300, then rose slightly and returned to 37000 within the day. In four-hour level of picture, the three EMAs are arranged in the short side, the long side has strong potential energy, and the trading volume is relatively sluggish. In day level of picture, BTC is generally located in the downward channel. At present, it has returned to the downward oscillating sideways position, and basically reversed the previous increase. If it fails to get effective support at 36000 at the lower edge of the oscillating range, it may start a new round of sharp decline. Pay attention to the breakthrough of 38000 above and the support of 36300 below.

According to data from the Huobi Global, the trend of ETH and BTC is similar, and it was supported around 2500 within a day. In four-hour level of picture, the three arranged in the short side, and the trading volume was relatively sluggish. In day level of picture, ETH is located in a steep descending channel recently, pay attention to the support of 2490 below.

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

The open interest of ETH futures contracts remained stable. The volume decreased slightly, 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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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.