Evening Market Report（Jan.21）
BTC continued to drop during daytime, now kept steady around 38000.
According to the data of Huobi Global, BTC started to fall rapidly last night, and it temporarily stabilized after falling to 38000 at noon today. From the 4h k-line, DIF crossed DEA steeply yesterday, the trading volume surged, and the opening of Bollinger Bands expanded rapidly. This drop brought the price of BTC, which had been stable for many days, back to the downward range again, showing steady and strong energy at short side. From the daily level, there may be a slight correction in the short term, but the magnitude will not be too large. The short side is dominant. Pay attention to the direction and magnitude of price adjustment in the short term.
According to the data of Huobi Global, the price of ETH dropped sharply during daytime, from the highest position of 3275 to the lowest position of 2811, and then stabilized, and is now around 2880. From the 4h K-line, magnitude of price decrease was large and the time it took was short. And the momentum was strong. The three EMAs turned sharply downward, the price reached 4 months’ lowest point, and the trading volume expanded widely. On the daily level, the price has reached the lower boundary of the downtrend range, after which it may correct sideways or rebound a little. In the short term, pay attention to the support at 2923 above.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased, the volume increased, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreased, the volume increased, and the contract market was relatively active. The basis of futures contracts remained stable.
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