Morning Market Report（Jan.5）
BTC continued to bottom overnight with strong support around 46,000.
According to data from Huobi Global, BTC pulled back overnight and rallied slightly in the morning and now sits near 46300, with stronger support around 46000. Looking at the 4h line, the three averages are slowing down on the downside and volume has increased. From the daily level, BTC is still located in the downside channel, the upside action is insufficient, after a brief long and short game, continue to bottom out probability.
According to data from Huobi Global, ETH has pulled back slightly overnight and now sits near 3800. From the 4h line, the three averages tend to overlap, the k line is located near the middle of the Bollinger band, the opening of the Bollinger band is almost unchanged, both sides parallel upward; the volume is slightly enlarged, the multi-party momentum gradually weakened. From the daily level, ETH is currently in the consolidation state, 3700 support is relatively strong, short-term concern about whether the pressure level can be broken.
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.
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