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Huobi Global Market Analysis

2022/02/25 12:43

BTC encountered resistance during daytime, and fell slightly.
According to the data of Huobi Global, BTC encountered resistance at 40,000 this morning after its steady rise last night, and then turned down during daytime, with a slight downward adjustment, and is now around 38,500. Judging from the 4-hour K-line, BTC's rise last night broke through the 39200 pressure level formed in the previous round, but the exceeding range was not much, and there may be a callback after that. Pay attention to the magnitude of the callback in short term. The support level below 34,000 is relatively stable, the volume is relatively high. From the daily level, BTC is still fluctuating at a low level, and the range is relatively large. The potential energy of short side cannot be ignored. Pay attention to the adjustment of the price direction in the future.
According to the data of Huobi Global, ETH rose sharply this morning, reaching the highest point of 2732, and then peaked and retraced. It is now around 2,610, and the trend is roughly the same as that of BTC. From the 4-hour K-line, the upward range of each moving average slowed down, and the trading volume expanded slightly. At present, the reduction rate is not high, and the long side potential is temporarily dominant. From the daily level, the price of ETH has not yet left the downward range, and is still oscillating at a low level. In the short term, pay attention to the direction after the price adjustment.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures dropped. The volume increased, and the contract market was relatively active. The basis of futures contracts remained stable.
The open interest of ETH futures contracts increased slightly. The volume increased, and the contract market was relatively active. 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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