Morning Market Report（Mar.08）
BTC rebounded after falling last night, pay attention to the support of 37000 below.
According to data from the Huobi Global, BTC found support around 37200 after a rapid decline last night, and then rose slightly. In four-hour level of picture, the three EMAs are arranged in short side, the short side has strong potential energy, and the trading volume is relatively sluggish. In day level of picture, BTC has recently ended its downward trend, returned to the previous shock range, and started to fluctuate at a low level. Pay attention to the breakthrough of 39600 above and the support of 37000 below.
According to data from the Huobi Global, the trend of ETH and BTC is similar, and the downtrend is supported at 2450. In four-hour level of picture, the three EMAs are arranged in short side. The short side has strong potential energy, and the trading volume is relatively sluggish. In day level of picture, ETH has fluctuated at a low level recently, and the fluctuation range is relatively large. Pay attention to the breakthrough of 2620 above and the support of 2450 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures contracts remained stable. The volume decreased slightly, 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.
Contact Huobi Research Institute:
Consulting email: firstname.lastname@example.org
Official website: https://research.huobi.com/
1. The author of this report and his organization do not have any relationship that affects the objectivity, independence, and fairness of the report with other third parties involved in this report.
2. The information and data cited in this report are from compliance channels. The sources of the information and data are considered reliable by the author, and necessary verifications have been made for their authenticity, accuracy and completeness, but the author makes no guarantee for their authenticity , accuracy or completeness.
3. The content of the report is for reference only, and the facts and opinions in the report do not constitute business, investment and other related recommendations. The author does not assume any responsibility for the losses caused by the use of the contents of this report, unless clearly stipulated by laws and regulations. Readers should not only make business and investment decisions based on this report, nor should they lose their ability to make independent judgments based on this report.
4. The information, opinions and inferences contained in this report only reflect the judgments of the researchers on the date of finalizing this report. In the future, based on industry changes and data and information updates, there is the possibility of updates of opinions and judgments.
5. The copyright of this report is only owned by Huobi Blockchain Research Institute. If you need to quote the content of this report, please indicate the source. If you need a large amount of reference, please inform in advance (see “About Huobi Blockchain Research Institute” for contact information), and use it within the allowed scope. Under no circumstances shall this report be quoted, deleted or modified contrary to the original intent.