Morning Market Report（Jan.19）
BTC rallied overnight with stronger pressure above at 42700.
According to data from Huobi Global,BTC rebounded strongly overnight, but the pressure above 42700 is stronger, has not formed an effective breakthrough, currently located near 42400. From the 4h line, EMA5 twisted upwards and has a tendency to penetrate EMA10, the short side momentum gradually weakened. Volume has expanded, focus on the breakout above. From the daily level, BTC has still been located 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 rallied overnight and now sits near 3180. From the 4h line, the three averages are gradually easing and becoming parallel, the Bollinger band opening is expanding slightly, the short side potential is weakening slightly, the volume is slightly enlarged and then weakening, the trend is weak. 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 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 decreased slightly, the volume remained stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
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