BTC/USDT Futures Trading Analysis — December 8, 2024
BTC/USDT Futures Trading Analysis — December 8, 2024
1. Introduction
As of December 8, 2024: - **Bitcoin Spot Price:** $99,477 (Binance Spot), a decrease of -1.25% over the past 24 hours. - **BTC/USDT Futures Price:** $99,500 (Binance Futures). - **Trading Volume:** $73.4 billion.
Economic Context: The Bitcoin market remains highly volatile. Recent economic data (Investing.com) show stabilized inflation and improving employment in the US, boosting interest in risky assets like cryptocurrencies.
2. Technical Analysis
- **Key Support and Resistance Levels:**
- Daily Timeframe: - Support: $95,000 - Resistance: $102,000 - Hourly Timeframe: - Support: $97,000 - Resistance: $100,000
- **Indicators:**
- MA(50): $98,900, MA(200): $94,700 - RSI: 64, indicating a neutral market. - Bollinger Bands: Expanded, suggesting increased volatility.
- **Wave Analysis:** According to Elliott Wave Theory, the market is in a corrective phase (A-B-C) and could resume an upward trend with a potential target at $105,000.
3. Volume and Liquidation Analysis
- **Open Interest:** $6.4 billion, up 2% over the past 24 hours. - **Liquidations in the last 24 hours:**
- **Total Liquidation Value:** $35 million - **Long Position Liquidations:** $28 million - **Short Position Liquidations:** $7 million
- **Liquidation Heatmap:**
4. Tables of Liquidations and Options
Weekly Liquidation and Open Interest Table:
| Date | Total Liquidation Value (Million USD) | Long Liquidations (Million USD) | Short Liquidations (Million USD) | Open Interest (Billion USD) |
|---|---|---|---|---|
| 2024-12-02 | 40 | 22 | 18 | 5.6 |
| 2024-12-03 | 35 | 20 | 15 | 5.8 |
| 2024-12-04 | 50 | 30 | 20 | 6.0 |
| 2024-12-05 | 45 | 25 | 20 | 6.1 |
| 2024-12-06 | 60 | 40 | 20 | 6.3 |
| 2024-12-07 | 55 | 35 | 20 | 6.4 |
| 2024-12-08 | 35 | 28 | 7 | 6.4 |
Weekly Options Table:
| Expiration Date | Open Interest (Billion USD) | Call/Put Ratio | Max Pain Level (USD) | Key Strike Prices (USD) |
|---|---|---|---|---|
| 2024-12-05 | 1.7 | 1.3 | 100,000 | 95,000, 100,000, 105,000 |
| 2024-12-06 | 1.8 | 1.4 | 101,000 | 96,000, 101,000, 106,000 |
| 2024-12-08 | 2.0 | 1.5 | 102,000 | 97,000, 102,000, 107,000 |
5. Conclusion
The liquidation heatmap highlights critical levels: - $96,500–97,000: A key zone with significant short liquidations, indicating strong support. - $95,000: A critical support level with significant long liquidations.
Forecast: The price is expected to recover and approach the level of $100,000 again.
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