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Huobi Global Market Analysis

2022/03/09 01:58

BTC moved sideways with shrinking trading volume last night, paying attention to the support of 37,000 below.
According to data from Huobi Global, BTC continued to move sideways at 38,000 last night, with no significant increase in trading volume. In four-hour level of picture, the moving range of the k line gradually becomes smaller, EMA5, EMA10, and EMA20 are arranged in parallel, the strength of both long and short sides is relatively weak, and the trading volume is relatively sluggish. In day level of picture, BTC has gradually begun to consolidate at a low level, paying attention to the breakthrough of 39,600 above and the support of 37,000 below.
According to the data of Huobi Global, the trend of ETH and BTC is similar. ETH moved sideways with shrinking trading volume at the 2,570 line last night, and the trading volume did not increase significantly. In four-hour level of picture, EMA5, EMA10, and EMA20 are also arranged in parallel, the strength of the short sides has weakened, and the downtrend has slowed down. In day level of picture, ETH gradually began to fluctuate at a low level, paying attention to the breakthrough of 2,620 above and the support of 2,450 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures was 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 decreased slightly. 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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