Huobi Research
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Huobi Research

Evening Market Report(Mar.14)

BTC price rebounded during daytime, with strong support below.

According to data from Huobi Global, after BTC fell to the lowest level of 37,500 this morning, it rebounded to around 39,000 during daytime today, the same position as before the fall, with strong support below. Judging from the 4-hour K-line, today’s decline didn’t last for long period. It did not break through the support level of 37000 below, and the trading volume did not drop significantly. The price is still in the stage of sideways adjustment. Pay attention to the price direction in the short term. From the daily level, the price of BTC has remained stable for four consecutive days, and the follow-up changes are not yet clear. The trend may continue to rebound in the short term, and pay attention to the price range.

According to data from Huobi Global, the price of ETH has rebounded, following the same trend as BTC, and is now at 2600. From the 4-hour K-line, the EMA line turned upward, and the DIF crossed the DEA. The long side potential was temporarily dominant, and the trading volume did not change much. The price returned to the level three days ago, and has a further upward trend, pay attention to the pressure level of 2680 above. Judging from the daily level, the price kept stable in recent days, and its direction of change is still unclear. Pay attention to the magnitude of price change.

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

The open interest of ETH futures contracts increased. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts rose 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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