Huobi Research
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Huobi Research

Evening Market Report(Jan.20)

BTC fell back after a small increase during daytime, continued adjusting sideways.

According to the data of Huobi Global, BTC stopped falling during daytime and increased slightly. It is now around 42,000, and the pressure above 42,700 is relatively high. From the 4h K-line, the moving averages overlap again, and long and short potential energy are comparable. The price trend has been adjusting sideways since the 18th, and the trading volume is low; the opening of Bollinger Bands has shrunk slightly, although DIF crossed DEA upward, but the price increase was not obvious, and soon encountered resistance at 42150. From the daily level, BTC has been oscillating around 41000–43000 for a long time, and may continue to fluctuate slightly in the short term, but it has not yet left the downward range. pay attention to whether the price will decrease again in the short term.

According to the data of Huobi Global, ETH continued to fluctuate sideways during daytime, changing directions several times, generally converging with the trend of BTC, and it is now around 3125. From the 4h K-line, the three moving averages gradually turned horizontal, the price was in a sideways adjustment stage for a long time, the opening of the Bollinger Bands narrowed slightly, the short potential energy weakened slightly, and the trading volume was small. From the daily level, ETH is located in a downward channel, and may continue to decline after the sideways adjustment. In the short term, pay attention to magnitude of changes in price and trading volume.

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

The open interest of ETH futures increased slightly, the volume remained 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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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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