Huobi Research
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Huobi Research

Morning Market Report(Dec.27)

BTC bounced back after a small pullback over the weekend.

According to data from Huobi Global, According to data from the Firecoin Global Station, BTC first oscillated sideways around 51,000 over the weekend and then dropped slightly, with the price rebounding quickly after falling slightly below the support line of 49500. Today the price continued the rebound trend, but slightly below the weekend level. Looking at the 4-hour level K-line, the original pressure level of 49500 was broken and turned into a support level, providing a support role yesterday. The recent K-line has had 3 obvious sequential rising lows and only 2 rising highs, so it is not yet possible to judge that the uptrend has been established, and it will take a price breakout of 52,000 to be sure. Daily level, the current BTC is a small positive, basically recovered the weekend’s decline. Daytime concern about the continuation of the rising market.

According to data from Huobi Global, the price of ETH on the weekend fluctuates slightly between 4050–4150. From the 4h line, there was an obvious downward trend in the price last morning, and it is now in a normal state of callback after the fall. The long and short potential energy offsets, and the trading volume is relatively sluggish. From the daily point of view, ETH presents a small positive line today, and the k line has shown a slight fluctuation in the past ten days. It has not yet recovered to the price level of early December.

In terms of contracts, the data of Huobi Futures showed that the BTC contract’s open interest remains unchanged, while the contract volume declines, and the contract market is relatively inactive. The basis of the delivery contract is basically stable.

The ETH contract holdings remain unchanged, the contract trading volume remains unchanged, and the contract market is relatively inactive. The basis of the delivery contract is basically 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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