Huobi Research
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Huobi Research

Morning Market Report(Jan.11)

BTC quickly recovers after falling below 40,000 overnight.

According to data from Huobi Global, BTC fell last night after a slight rebound, fell below 40000 after a rapid recovery, is now located near 41900, above 42000 pressure is stronger, from the 4h line, three averages gradually overlap, the volume has been enlarged, multiple potential energy is still more significant. From the daily level, BTC has still been located in the downward channel for a long time, the lack of upward momentum, the subsequent attention to the volume of changes in the situation, there is a short-term bottoming out again may.

According to data from Huobi Global, ETH rallied after a sharp pullback overnight, trending in the same direction as BTC, now located near 3080. From the 4h line, the three averages tend to moderate and tend to be parallel, the multi-party momentum is now more significant, and the volume has increased. From the daily level, the ETH short-term support level is near 2930, pay attention to whether the support level is effective and the change in volume.

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

The open interest of ETH futures decreased slightly, the volume increased significantly, 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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Huobi Research

Huobi Research

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Blockchain industry top think tank, affiliated to Huobi Group.