Huobi Research
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Huobi Research

Morning Market Report(Feb.8)

BTC is shaking at a high level overnight with pressure above 44,000.

According to data from Huobi Global,BTC has been oscillating at a high level overnight and is currently located near 44000 with strong pressure above. From the 4h line, EMA5 is located above EMA10 and EMA20, with long alignment; multi-party momentum continues to hold; volume rises and then falls back. From the daily level, BTC reopened the upward channel, the price has now exceeded the previous pressure level, pay attention to whether a new breakthrough can be formed above as well as the change in volume.

According to data from Huobi Global, According to data from the Firecoin Global Station, ETH’s nightly trend converged with BTC and is now located near 3100. From the 4h line, the three averages are arranged in a multi-headed manner, and the multi-party momentum continues to be slightly dominant, with little change in volume and a relatively healthy trend. From the daily level, ETH opened an upward channel, pay attention to the breakout above and the change in volume.

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

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

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.

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Blockchain industry top think tank, affiliated to Huobi Group.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

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