Evening Market Report（Jan.17）
BTC price held steady during daytime, changing direction several times.
According to data from Huobi Global, the price of BTC continued to oscillate slightly sideways, changing directions several times, and is now around 42,500. Judging from the 4h K-line, each moving average is close to the horizontal position, the price has been stable for many days, and has not shown obvious direction yet, the Bollinger Band has a narrow opening, and the trading volume is sluggish. At the daily level, the price is still in the downward range. Whether it can break through still needs to pay attention to the follow-up price trend, and it may fluctuate sideways for a period of time. In the short term, focus on support below the price and directional changes.
According to the data of Huobi Global, the price of ETH is stable and is now around 3260, and the transaction volume is very sluggish. From the 4h k-line, the opening of the Bollinger Band remains unchanged, K-line is located between the middle rail and the upper rail of the Bollinger Band, and the moving averages are almost coincide. From the daily level, after the price bottomed out and rebounded on the 10th, the volatility has been small. Both sides are accumulating energy, and there is no obvious trend. Pay attention to the range of fluctuations in the short term.
In terms of contracts, then data of Huobi Futures shows that the open interest of BTC contracts has dropped, the contract trading volume has dropped, and the contract market is relatively inactive. The basis for delivery contracts is stable.
The open interest of ETH contracts fell, the contract trading volume declined, and the contract market was relatively inactive. The basis for delivery contracts fell slightly.
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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