BTC/USDT Futures Trading Analysis — December 4, 2024

BTC/USDT Futures Trading Analysis — December 4, 2024

1. Introduction

As of December 4, 2024:

• **Bitcoin spot price:** Binance Spot **96,110.08 USD**, a **0.12%** increase over the last 24 hours.
• **BTC/USDT futures price:** Binance Futures **96,120.10 USD**.
• **Trading volume:** **68.1 billion USD**.

Economic Context: Stable macroeconomic data and moderate inflation forecasts continue to support positive sentiment in the cryptocurrency market (Investing.com).

2. Technical Analysis

Support and Resistance Levels:

• Daily timeframe:

 - Support: **94,000 USD**
 - Resistance: **98,000 USD**

• Hourly timeframe:

 - Support: **95,500 USD**
 - Resistance: **97,500 USD**

Indicators:

• **MA (50):** **95,700 USD**, **MA (200):** **93,500 USD**
• **EMA (50):** **95,900 USD**, **EMA (200):** **93,800 USD**
• **RSI:** **61** (approaching overbought territory)
• **MACD:** Positive signal for an upward trend
• **Bollinger Bands:** Narrowed, indicating lower volatility.

Wave Analysis: The market is in the third wave according to Elliott Wave Theory, suggesting a potential move towards **98,000 USD**.

3. Volume and Liquidation Analysis

Open Interest:

• **5.5 billion USD** (Coinglass).

Liquidations in the Last 24 Hours:

• Total liquidations: **25.2 million USD**

 - Long positions: **20.1 million USD**
 - Short positions: **5.1 million USD**

Liquidation Heatmap: ![Binance Liquidation Heatmap(https://i.ibb.co/K2SstPr/Binance-BTC-USDT-Liquidation-Heatmap-24-hour-2024-12-04-08-03-09.png)]

4. Forecast and Strategy

The liquidation heatmap shows:

• Significant concentration of long liquidations at **95,500 USD**, establishing this level as critical support.
• High volume of short liquidations between **96,500–97,000 USD**, confirming a breakout above key resistance.

Proposed Strategy:

• **Entry point:** **96,200 USD**
• **Exit point:** **98,000 USD**
• **Stop-loss:** **95,500 USD**

Example Trade:

• Capital: **1,000 USD**, Leverage: **20x**
• **Potential profit:** **360 USD**
• **Potential loss:** **140 USD**

5. Conclusion

The liquidation heatmap highlights key levels:

• **96,500–97,000 USD:** A zone with significant short liquidations, reinforcing the upward trend.
• **95,500 USD:** A zone with substantial long liquidations, making it a critical support level.

This data confirms the current positive sentiment in the market and provides clear guidance for trading BTC/USDT.

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