Huobi Research
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Huobi Research

Evening Market Report(Jan.19)

BTC fell rapidly during the day, pay attention to the support below.

According to data from the Huobi Global, BTC fell slightly during the day, and reversed the increase last night. It broke through the upper edge of the descending channel for a short time last night, but fell again after being resisted by the short side at 42400. Overall, it is still in a downward trend. In four-hour level of picture, the K-line quickly crossed downward the three EMAs within the day, and the three EMAs maintained a downward trend. The K-line crossed the lower track of the Bollinger Bands for a short time in a day, and the opening of the Bollinger Bands continued to expand. DIF continues to stay below DEA, both of which were negative. Trading volume was relatively sluggish. The CCI is below the -100 line, and the long side may enter the market again, leading to a short-term rebound in BTC. In day level of picture, BTC ushered in four consecutive decreases. In the evening, continue to pay attention to the breakthrough of 42,000 above and the support of 40,800 below.

According to data from the Huobi Global, ETH fell slightly within the day, and it is currently as low as 3046.46 USDT. In four-hour level of picture, the K-line crossed downward EMA 5 and EMA 10 within the day, and continued to be below EMA 20, and the three EMAs maintained a downward trend. The K-line crossed the lower track of the Bollinger Band in a short time. The opening of Bollinger Bands continues to expand. DIF continued to stay below DEA on the day, both of which were negative. Trading volume was relatively sluggish. CCI is below the -100 line, and ETH may rebound. In day level of picture, ETH ushered in four consecutive decreases. In the evening, continue to pay attention to the breakthrough of 3100 above and the support of 3000 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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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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