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Huobi Global Market Analysis

2022/02/24 11:39

BTC fluctuated at a low position in the day, pay attention to the support of 33700 below.
According to data from the Huobi Global, BTC fell with expanding volume this morning and was supported near 35,000. Afterwards, it continued to fluctuate at a low position within the day, and there is a further downward trend. In four-hour level of picture, the three EMAs are arranged in the short side, the short side has strong potential energy, and the trading volume is slightly enlarged. In day level of picture, BTC is generally located in the downward channel, and is currently back to the previous low shock range. If it fails to get effective support at the lower edge of the shock range 33700, it may create a new low for the year. Pay attention to the breakthrough of 36500 above and the support of 33700 below.
According to data from the Huobi Global, ETH continued its decline overnight. In four-hour level of picture, the three EMAs are arranged in the short side, and the trading volume expands slightly. In day level of picture, ETH is generally located in the downward channel, and the recent downward trend is steep, pay attention to the support of 2250 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.
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DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

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