Morning Market Report（Feb.25）
BTC bottomed out and rebounded last night, pay attention to the breakthrough of 40000 above.
According to data from the Huobi Global, BTC was supported at around 35,000 last night, and then rapidly increased with expanding volume. Now it is approaching 40,000 integer mark again, reversing yesterday’s decline. In four-hour level of picture, the three EMAs formed a golden cross, the long side potential energy was strong, and the trading volume was slightly enlarged. In day level of picture, BTC is generally fluctuating at a low level. If the long side potential energy fails to be effectively extended, it may pull back slightly to form a head-and-shoulders bottom pattern. Pay attention to the breakthrough of 40,000 above and the support of 36,600 below.
According to data from the Huobi Global, the trend of ETH is similar to that of BTC, and it has risen rapidly with expanding volume from last night to this morning. In four-hour level of picture, the three EMAs gradually formed a golden cross, the long side potential energy was strong, and the trading volume expanded slightly. In day level of picture, ETH fluctuated widely at low levels, pay attention to the breakthrough of 2750 above and the support of 2500 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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