Bitcoin Futures Analysis BTCUSDT - November 25 2024

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BTC/USDT Futures Trading Analysis – November 25, 2024

1. Introduction

As of November 25, 2024, the spot price of Bitcoin is 98,160.93 USD, showing a slight decline of 0.03% over the last 24 hours. The BTC/USDT futures price on the Binance platform is 98,064.30 USD.

The total trading volume in the last 24 hours was 54.46 billion USD, indicating continued strong interest in this asset.

2. Technical Analysis

Daily Timeframe:

- Moving Averages (MA and EMA): 

 - MA(50): 95,000 USD
 - MA(200): 85,000 USD
 - EMA(50): 96,000 USD
 - EMA(200): 86,500 USD

 The current price is above all mentioned moving averages, signaling an uptrend.

- RSI and MACD Indicators: 

 - RSI: 65 (overbought zone).
 - MACD: positive value, indicating continued bullish momentum.

- Fibonacci Levels: 

 - 23.6%: 92,000 USD
 - 38.2%: 88,000 USD
 - 50%: 85,000 USD
 - 61.8%: 82,000 USD

 These levels can serve as potential correction points in case of a price drop.

- Bollinger Bands and ATR: 

 - The width of the Bollinger Bands is increasing, indicating heightened volatility.
 - ATR: 2,500 USD, confirming the current market dynamics.

- VWAP: 

 - The current price is above VWAP, supporting a positive market sentiment.

- Elliott Wave Analysis: 

 - The third wave appears to be complete, which may indicate a correction in the fourth wave.

- Patterns: 

 - A "Head and Shoulders" pattern is forming on the hourly chart, potentially signaling a trend reversal.

3. Volume Analysis

- Open Interest: 

 - Total open interest stands at 5 billion USD, with long positions dominating, indicating a bullish market sentiment.

- Liquidation Data: 

 - Over the last 24 hours, positions worth 200 million USD were liquidated, including 120 million USD in long positions and 80 million USD in short positions.

- Options: 

 - The next expiration date is November 30, 2024.
 - Open interest volume for options stands at 1.5 billion USD, with a call/put ratio of 1.2.
 - The "Max Pain" level is at 95,000 USD.

- Bitcoin ETF: 

 - The purchase volume over the last 24 hours was 500 million USD, indicating ongoing institutional interest.

4. Forecast and Strategy

Based on the analysis, a long position is recommended if the price breaks above 98,500 USD. With a capital of 1,000 USDT and a leverage of 20x:

- Entry Point: 98,500 USD - Take-profit: 100,000 USD - Stop-loss: 97,000 USD

Expected profit: 1,500 USDT, expected risk: 1,500 USDT.

5. Fundamental Analysis

- Macroeconomic Factors: 

 - U.S. Q3 2024 GDP data is expected to be released on November 27, which could impact the BTC/USDT price.

- Large Transactions and Institutional Players: 

 - Significant Bitcoin purchases by institutional investors have been recorded, supporting the ongoing bullish trend.

6. Liquidation Analysis Based on Coinglass Heatmap

[center][img]https://i.ibb.co/RCJGw86/Binance-BTC-USDT-Liquidation-Heatmap-24-hour-2024-11-25-08-57-25.png[/img][/center]

- Total Liquidations at Key Price Levels: 

 - At 97,000 USD, significant liquidations of long positions were observed.
 - At 99,000 USD, short positions are being liquidated.

- Long/Short Liquidation Ratio: 

 - Long position liquidations dominate, suggesting a possible short-term price correction.

- Frequency of Liquidations Within Price Ranges: 

 - Key liquidation clusters are concentrated in the 97,000–99,000 USD range, indicating increased volatility.

7. Sponsor of This Publication

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