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Huobi Global Market Analysis

2022/02/28 04:06

BTC price fluctuated sideways over the weekend, with strong support below.
According to the data of Huobi Global, the price of BTC fluctuated sideways on the weekend, and started to fall last night. The lowest point reached around 37,000, and then it encountered resistance and increased slightly. It is now around 38,000. The duration of the decline is short, and the support below is strong. Judging from the 4-hour K-line, although the speed of decline last night was relatively large, it quickly rebounded. The price trend has not shown yet, the trading volume has been at a low level, and the Bollinger Band has shrunk to a small range. From the daily level, the price changes of BTC in the past three days was relatively small. Pay attention to the changes in price direction, the pressure level of 40500 above and the support of 34500 below in short term.
According to the data of Huobi Global, ETH fell sharply last night, reaching the lowest point at 2550, but it quickly rebounded and is now around 2650, which is the same trend as BTC. Judging from the 4-hour K-line, the moving averages are in short positions, but downward magnitude is slow, the price trend is not obvious, and the trading volume is at a low level. DIF is about to cross DEA, and the subsequent price may increase. From the daily level, ETH is still oscillating at a low level, pay attention to the direction of price adjustment in the short term.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures kept 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 kept stable. The volume was unchanged, 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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