Huobi Research
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Huobi Research

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.

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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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.