Huobi Research
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Huobi Research

Morning Market Report(Mar.11)

BTC oscillates sideways at night, with room for further decline.

According to the data of Huobi Global, the price of BTC was blocked from falling yesterday and oscillated sideways. The lowest point reached 38500, and then it rebounded slightly, and then fell again this morning, and is now around 38800. Judging from the 4-hour K-line, after the price rose sharply on Wednesday, the price of BTC has a strong retrace trend, and the potential energy of short side is strong. There is still room for further decline at present, the trading volume is enlarged, and the three EMA lines downward arranged. From the daily level, the price volatility is obvious in the past two days. The current price is basically the same as that of the three days ago. In the short term, pay attention to the support of 37300 below.

According to the data of Huobi Global, the price of ETH fluctuated slightly sideways at night, similar to the trend of BTC price, and is currently around 2560. From the 4-hour K-line, the three EMAs are short arranged, and the DIF crosses the DEA to form a bearish signal. After the sharp drop yesterday, the price recovery is not obvious, the short side had strong energy, and trading volume increased. From the daily level, the price of ETH has returned to the descending channel, paying attention to the support of 2450 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased slightly. The volume increased, and the contract market was relatively active. The basis of futures contracts remained stable.

The open interest of ETH futures contracts remained stable. The volume increased, and the contract market was relatively active. 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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