Bitcoin price forecasting with AI

Bitcoin Price Prediction for Bitcoin Future (December 2024 Contract)

Prediction score: -2 (a little cautious with a warning)

Key Observations

From the 240-minute Chart:

1. Bitcoin Price Rejected at Key Resistance Levels:

   • The Today, the stock price of Bitcoin at $104,330 failed to keep above the previously bare POC at $104,500 and the VAH at $104,790 (both from 7 days ago).
   • This rejection increases the likelihood of bearish continuation for Bitcoin futures.

2. Delta Analysis and Volume for Bitcoin Futures:

   • The latest 240-minute bar shows a Large Negative Delta Change (-108) with a red candle, indicating aggressive selling near a major resistance.
   • Cumulative delta has turned down after small positive moves earlier in the session, indicating an increase in sellers' dominance.

3. Possible support and bearish levels in the future of Bitcoin:

   • Immediate support lies at $102,990 (6 days ago VAH) and $102,590 (VAH Friday).
   • Additional levels to watch:
     • $102,465: Naked POC from 6 days ago.
     • $100,890: Friday revealed VAL.
     • $101,380: VWAP closes on Friday.
   • If sellers are pushing the price of Bitcoin further, the psychological level of $100,000 and $96,200 (POC stripped 4 days ago) being strong downward magnets.

From the 30-minute chart of Bitcoin Futures:

1. VWAP slope and price action:

   • The price of Bitcoin today is trading below today stands at 105 317 $and the slope remains down, reinforcing the short-term bearish sentiment.
   • Price action is showing near rejection $104,500with dealers actively guarding that area.

2. Delta Verification and Dimensional Analysis:

   • 30-minute multi-bar presentation A negative Delta shift with a decline in prices:
     • 12:30 Bar: Large negative delta (-206), indicating strong sales.
     • 13:00 Bar: Continue selling weight with delta at -252.

3. Key levels to watch for:

   • Levels of Resistance:
     • $104,820: Present Value Range Low (VAL).
     • $105,210: POC.
     • $105,317: VWAP today.
     • $106,060: VAH today.
     • $106,615: Second standard deviation of VWAP.
   • Traders who want to be short can wait for prices to move towards these levels for better entries.
   • Levels of support: $104,029 (current session low), $102,990, and further below at $100,890.

Important note for traders and investors:

This Bitcoin exchange rate has increased against AI aimed specifically at Bitcoin Futures (December 2024 contract). Traders and investors using platforms like Coinbase or Binance it should be noted that the price levels given here may not match their pairs but still show the same directional trend. If this forecast indicates a bearish trend for Bitcoin futures, it often translates into a similar bearish sentiment on their platforms.

Option trading and risk management:

• Traders need to practice choice and align this analysis with their strategy. The forecast offers directional biasbut entries and exits depend on individual risk management and timing.
• For example, traders who are considering a short position can wait until the price comes back close $104,820 (today's VAL), $105,210 (POC), or $105,317 (VWAP) to get better access.
• Price could even revisit the Buy VAH for 106,060 or the the second standard deviation of VWAP at $106,615shows the importance of patience.

Trade at your own riskand back to forexlive.com for additional market insights and updates on Bitcoin futures and other instruments.

Summary:

This Bitcoin stock price history high goals a slightly bearish bias (-2) with immediate resistance at $104,500-105,317 and support at $102,990 and $100,890. Traders should look for reversals to key levels for possible short entries while using proper risk management.

IMPORTANT FOR ALL BITCOIN INVESTORS AND TRADERS: This analysis is for informational purposes only. Traders and investors must exercise their own judgment, strategies and risk management when using these insights. For continuous updates and professional insights, return to forexlive.com.