Huobi Research
Published in

Huobi Research

Morning Market Report(Jan.17)

BTC oscillated sideways over the weekend, running in a symmetrical triangle.

According to data from Huobi Global, BTC oscillated sideways over the weekend. Looking at the 4H level K-line, from January 11, BTC entered a symmetrical triangle area with decreasing price volatility. As the trend before the triangle is unclear, it is also unclear whether this triangle is bullish or bearish. At the moment it seems to have stronger pressure on its upper boundary, and the subsequent breakout of the K-line on both boundaries needs to be watched. Daily level, the K-line from the horn pattern into a symmetrical triangle, indicating that the market after the mood fluctuations and stabilized again, the price consensus for the time being, there may be a period of sideways trading. Day-to-day attention is paid to the support of 42600 and the blocking of the upper boundary of the triangle.

According to the data of Huobi Global, the price of ETH remained stable over the weekend, with a small fluctuation range, fluctuating slightly between 3250–3400, and the trading volume was very sluggish. From the 4h line, the opening of the Bollinger Band remains unchanged, the K line is located between the middle rail and the upper rail of the Bollinger Band, and all trend indicators are within the normal range. From the perspective of the daily line, the K line gradually returns from the lower track of the Bollinger Band to the middle track, the long and short potential energies cancel each other out, and the sideways trend is expected to continue.

In terms of contracts, then data of Huobi Futures shows that the open interest of BTC contracts has dropped, the contract trading volume has dropped, and the contract market is relatively inactive. The basis for delivery contracts is stable.

The open interest of ETH contracts fell, the contract trading volume declined, and the contract market was relatively inactive. The basis for delivery contracts fell slightly.

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.

Contact Huobi Research Institute:
Consulting email:
research@huobi.com
Official website: https://research.huobi.com/
Twitter: @Huobi_Research
Medium: medium.com/huobi-research
Telegram: t.me/HuobiResearchOfficial

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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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