BTC/USDT Futures Trading Analysis — December 3, 2024

[[[[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.

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