Morning Market Report（Feb.22）
BTC was highly volatile last night, and the probability is that it will continue to bottom in the short term.
According to data from Huobi Global, BTC last night volatility, long and short game continued to move sharply downward, the lowest fell below 37000, is now located near 37000, the short side of the potential continued weak dominance. From the 4h line, EMA5, EMA10 and EMA20 short head arrangement, has now fallen below the previous support level, short-term probability of further bottoming. From the daily level, BTC has been in a downward trend for a week, and the earlier upward trend has been broken.
According to data from Huobi Global, ETH night trend and BTC convergence, the shock is more violent, the morning continued downward, has fallen below 2600, is now located near 2580, the downward trend slowed down, below the support level is temporarily stronger. From the 4h line, the three are short alignment, but the multiparty momentum slightly dominant, the volume has been enlarged. From the daily level, ETH’s earlier uptrend channel has been broken, with attention to the bottom support.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable, the volume decreased significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures increase slightly, the volume decrease slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
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.
Contact Huobi Research Institute:
Consulting email: email@example.com
Official website: https://research.huobi.com/
1. The author of this report and his organization do not have any relationship that affects the objectivity, independence, and fairness of the report with other third parties involved in this report.
2. The information and data cited in this report are from compliance channels. The sources of the information and data are considered reliable by the author, and necessary verifications have been made for their authenticity, accuracy and completeness, but the author makes no guarantee for their authenticity , accuracy or completeness.
3. The content of the report is for reference only, and the facts and opinions in the report do not constitute business, investment and other related recommendations. The author does not assume any responsibility for the losses caused by the use of the contents of this report, unless clearly stipulated by laws and regulations. Readers should not only make business and investment decisions based on this report, nor should they lose their ability to make independent judgments based on this report.
4. The information, opinions and inferences contained in this report only reflect the judgments of the researchers on the date of finalizing this report. In the future, based on industry changes and data and information updates, there is the possibility of updates of opinions and judgments.
5. The copyright of this report is only owned by Huobi Blockchain Research Institute. If you need to quote the content of this report, please indicate the source. If you need a large amount of reference, please inform in advance (see “About Huobi Blockchain Research Institute” for contact information), and use it within the allowed scope. Under no circumstances shall this report be quoted, deleted or modified contrary to the original intent.