BTC edged back up in a shakeout, watching for a trendline conversion.

According to data from Huobi Global, BTC is shaking slightly to the upside during the day. Looking at the 4H level K-line, BTC started a rapid decline on February 17 and fell below the rising trend line early this morning. The price had a small rebound today, but never regained the above trend line, the original support line produced a blocking effect. It is necessary to observe whether the blocking continues to be effective in the near future, and if BTC cannot quickly return above the trend line, it is necessary to re-judge the medium-term trend. Daily level, BTC suffered three consecutive negative, there are signs of a short-term downtrend. The evening is concerned about the continuation status of the downward market and the blocking effect of the trend line. There is no proximity to support levels.

According to data from Huobi Global, ETH oscillated upwards during the day. From the 4H K-line, ETH also recovered slightly after a rapid decline, but found the approaching support level of 2840. the upper and lower shadows of today's K-line are long, indicating that the market divergence is still large, the direction is not clear in the short term, and it has not stabilized for the time being. Daily level, ETH is also three consecutive negative, the recent decline is slightly smaller than BTC.

In terms of contracts, the data of Huobi Futures shows that the open interest of BTC contracts remains unchanged, the contract trading volume drops, and the contract market is relatively inactive. The basis for delivery contracts is stable.

The ETH contract open interest remained unchanged, the contract trading volume fell, and the contract market was relatively inactive. The delivery contract basis remains unchanged.

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