Evening Market Report（Mar.10）
BTC continued to fall during the day, pay attention to the support of 37300 below.
According to data from the Huobi Global, BTC continued its overnight decline, with a rapid drop with expanding volume. In four-hour level of picture, the three EMAs tend to overlap, forming a death cross, the short side has strong potential energy, and the trading volume expands slightly. In day level of picture, BTC encountered short side resistance at 42500, and then formed a steep downward channel. It has now reversed the previous increase and returned to the lower shock range. Pay attention to the breakthrough of 40000 above and the support of 37300 below.
According to data from the Huobi Global, ETH and BTC have a similar trend and continued to fall after encountering resistance at 2760. In four-hour level of picture, the three EMAs formed a death cross. The short side has strong potential energy, and the trading volume is relatively sluggish. In day level of picture, ETH has formed a downward channel, which basically reversed yesterday’s increase. Pay attention to the breakthrough of 2760 above and the support of 2450 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.
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