Huobi Research
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Huobi Research

Evening Market Report(Jan.24)

BTC fell slightly in the day, paying attention to the support below.

According to data from the Huobi Global, BTC fell slightly during the day, basically reversed the gains made last night, and was supported near 35,000 below. Overall, it is still in the recent sideways range. In four-hour level of picture, the K-line broke through EMA 10 downward during the day and continued to stay below EMA 20, and the three EMAs tended to be flat. The K-line is located between the middle track and the lower track of the Bollinger Band, and the opening of the Bollinger Band shrinks slightly. DIF crosses DEA upward, both are negative. Trading volume was relatively sluggish. BTC may rebound slightly. In day level of picture, BTC rose slightly today. Continue to pay attention to the breakthrough of 36300 above and the support of 34000 below.

According to data from the Huobi Global, ETH has a similar trend to BTC during the day. It continued to fall and reversed yesterday’s gains, and is currently supported around 2380. In four-hour level of picture, the K-line has continuously crossed downward EMA 10 and EMA 5, and the downward trend of the three EMAs has slowed down. The K-line is located between the middle track and the lower track of the Bollinger Bands. The Bollinger Bands opening narrowed slightly. DIF crosses DEA upward, both are negative. Trading volume was relatively sluggish. ETH may rebound slightly. In day level of picture, ETH fell slightly today, basically reversing yesterday’s gains. Continue to pay attention to the breakthrough of 2540 above and the support of 2300 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 decreased slightly.

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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