Huobi Research
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Huobi Research

Morning Market Report(Jan.4)

BTC continued to bottom overnight with strong support around 46,000.

According to data from Huobi Global, BTC failed to stabilize the support level of 47000, and continued to bottom overnight, touching 45600 after a small rebound, now located near 46000, the support near 46000 is relatively strong. From the 4h line, the three averages are steeply downward, short head alignment, the volume has enlarged, short-term concern whether stabilization; from the daily level, BTC is still located in the downward channel, continue to bottom probability is greater.

According to data from Huobi Global, ETH retraced overnight, trend and BTC convergence, now located near 3740. From the 4h line, EMA5 penetrated EMA10,EMA20, forming a dead cross. k line is located near the middle rail of the Bollinger band, the opening of the Bollinger band is almost unchanged; the volume of change is not much, the multi-party momentum gradually weakened. From the daily level, ETH is currently in a downside range, short-term concern whether it can stand stable 3700 support level

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable, 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 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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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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