Morning Market Report（Jan.18）
BTC continued to fall overnight, reaching a low near 41,500.
According to data from Huobi Global, BTC continues to move downward, the low touched 41500, the support below is relatively strong, currently located near 42300. From the 4h line, the averages are arranged hollow, the empty potential is more significant; the volume has been enlarged; from the daily level, BTC still has been in the downward channel for a long time, the upside resistance is larger, the short-term is still concerned about the support situation below.
According to data from Huobi Global, ETH continued to fall in the evening and now sits near 3200. From the 4h line, the three averages are gradually easing, the Bollinger band opening is almost unchanged, the short-side potential is now more significant, the volume is slightly enlarged and then weakened. From the daily level, ETH is located in the downward channel, 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 remained stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures decreased slightly, the volume remained stable, 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.
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