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Huobi Global Market Analysis

2022/03/08 10:36

BTC moved sideways with shrinking trading volume during the day, paying attention to the support of 37000 below.
According to data from Huobi Global, BTC moved sideways at 38,000 within a day, and the trading volume did not increase significantly. In four-hour level of picture, the moving range of the K line in the Bollinger Band is gradually shrinking. At present, the power of the short sides is still relatively strong, and the trading volume is relatively sluggish. In day level of picture, BTC has recently ended its downward trend, returned to the previous consolidation range, and started to fluctuate at a low level. Pay attention to the breakthrough of 39600 above and the support of 37000 below.
According to the data of Huobi Global, the trend of ETH and BTC is similar. ETH moved sideways slightly during the day, and the trading volume did not increase significantly. In four-hour level of picture, the K line gradually enters the Bollinger Band, and the downward trend may slow down, and may gradually form a consolidation stage. In day level of picture, ETH gradually began to fluctuate at a low level, paying attention to the breakthrough of 2620 above and the support of 2450 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly. 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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