BTC/USDT Futures Trading Analysis — December 3, 2024

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BTC/USDT Futures Trading Analysis — December 3, 2024

1. Introduction

As of December 3, 2024:

  • **Bitcoin spot price:** Binance Spot Price **96,110.08 USD**, down **0.62%** in the last 24 hours.
  • **BTC/USDT futures price:** Binance Futures **96,086.10 USD**.
  • **Trading volume:** **67.91 billion USD**.

Influential factors:

  • Macroeconomic events, such as interest rate decisions by the U.S. Federal Reserve, have increased market volatility (Economic Calendar).

2. Technical Analysis

Key Support and Resistance Levels:

  • Daily timeframe:
 - Support: **94,000 USD**
 - Resistance: **98,000 USD**
  • Hourly timeframe:
 - Support: **95,000 USD**
 - Resistance: **97,500 USD**

Indicators:

  • **MA (50):** **95,500 USD**, **MA (200):** **93,000 USD**
  • **EMA (50):** **95,800 USD**, **EMA (200):** **93,200 USD**
  • **RSI:** **60** (neutral zone)
  • **MACD:** Bullish trend signal (MACD line above signal line)
  • **Bollinger Bands:** Narrowing, indicating reduced volatility.
  • **ATR:** **1,500**, moderate volatility.
  • **VWAP:** Current price is above VWAP.

Wave Analysis: The market is in the third wave according to Elliott Wave theory, indicating potential for further upward movement.

Patterns: A "double bottom" pattern is forming, which could signal further upward momentum.

3. Volume Analysis

Open Interest:

  • **5 billion USD** (Coinglass), dominated by long positions.

Liquidations in the last 24 hours:

  • Total liquidations: **20.4 million USD**
  • Long positions: **19.9 million USD**, short positions: **0.5 million USD**.

Options:

  • Expiry date: **December 5, 2024**.
  • Open interest volume: **3 billion USD**.
  • Call/put ratio: **1.5**.
  • "Max Pain" level: **95,000 USD**.
Liquidations Summary
Date Total Liquidations (in billion USD) Long Position Liquidations Short Position Liquidations Open Interest on Futures
02.12.2024 0.0204 0.0199 0.0005 5 billion USD
03.12.2024 0.0180 0.0170 0.0010 5.2 billion USD
Options Summary
Expiry Date Open Interest Volume (in billion USD) Call/Put Ratio "Max Pain" Level Key Strike Prices
05.12.2024 3 1.5 95,000 USD 90,000 USD, 95,000 USD, 100,000 USD

[center]![Binance Liquidation Heatmap(https://i.ibb.co/6XF3B6k/Binance-BTC-USDT-Liquidation-Heatmap-24-hour-2024-12-03-08-48-40.png)][/center]

4. Forecast and Strategy

Recommended strategy: **Long position**.

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

Example:

  • Capital: **1,000 USD**, Leverage: **20x**
  • **Potential profit:** **400 USD** (if the price reaches 98,000 USD).
  • **Potential loss:** **200 USD** (if the price drops to 95,000 USD).

5. Fundamental Analysis

Key factors:

  • U.S. Federal Reserve interest rate decisions (Economic Calendar).
  • Increased institutional demand for Bitcoin ETFs.
  • High activity from major players increasing their long positions.

6. Sponsor of This Analysis

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