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Huobi Global Market Analysis

2022/03/07 10:52

BTC price continues to fall during daytime, pay attention to the support below.
According to data from Huobi Global, after two days of sideways adjustment over the weekend, the price of BTC continued to drop slightly during daytime today, and is currently around 37800. Judging from the 4-hour K-line, the rebound of BTC price after Friday was not violent, and short side still dominated, but the price drop in this round was also small. Pay attention to the support below in short term. Volume is stable at low levels and the Bollinger Bands have narrow openings. From the daily level, the downward trend of prices in the past five days has been relatively stable, but the momentum is slowing down. In the short term, the possibility of price recovery cannot be ruled out, and pay attention to the changes in price direction.
According to the data of Huobi Global, the price of ETH started to fall early this morning, and the trend was earlier than that of BTC. It is currently around 2525, and the trading volume has been at a low level. From the 4-hour K-line, the price has broken through the last round of lows formed a week ago, and short side is currently dominant. The moving averages are moving downward, and the trading volume remains stable. From the daily level, ETH has been falling for several days in a row, and the downward trend is likely to continue. In the short term, pay attention to the support at the 2320 position below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The volume kept stable, 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 didn’t change much, 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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