Bitcoin Price Prediction by AI

Bitcoin Price Prediction for Bitcoin Futures (December 2024 Contract)

Prediction Score: -2 (Slightly Bearish with Caution)

Key Observations

From the 240-Minute Chart:

1. Bitcoin Price Rejected at Key Resistance Levels:

   • The current Bitcoin price at $104,330 failed to hold above the previously naked POC at $104,500 and the VAH at $104,790 (both from 7 days ago).
   • This rejection increases the likelihood of bearish continuation for Bitcoin futures.

2. Delta and Volume Analysis for Bitcoin Futures:

   • The most recent 240-minute bar shows a significant negative Delta Change (-108) with a red candle, indicating aggressive selling near key resistance.
   • Cumulative delta has turned downward after minor positive movements earlier in the session, signaling rising seller dominance.

3. Support and Potential Downside Levels in Bitcoin Futures:

   • Immediate support lies at $102,990 (6 days ago VAH) and $102,590 (Friday’s VAH).
   • Further levels to watch:
     • $102,465: Naked POC from 6 days ago.
     • $100,890: Friday’s naked VAL.
     • $101,380: Friday’s closing VWAP.
   • If sellers push Bitcoin price further, the psychological level of $100,000 and $96,200 (naked POC from 4 days ago) could act as strong downside magnets.

From the 30-Minute Chart of Bitcoin Futures:

1. VWAP Slope and Price Action:

   • Bitcoin price is currently trading below today’s VWAP at $105,317, and the slope remains downward, reinforcing short-term bearish sentiment.
   • Price action shows a rejection near $104,500, with sellers actively defending that area.

2. Delta Confirmation and Volume Analysis:

   • Multiple 30-minute bars show negative Delta Change with price declines:
     • 12:30 Bar: Large negative delta (-206), indicating strong selling.
     • 13:00 Bar: Continued sell pressure with delta at -252.

3. Key Levels to Watch:

   • Resistance Levels:
     • $104,820: Today’s Value Area Low (VAL).
     • $105,210: POC.
     • $105,317: Today’s VWAP.
     • $106,060: Today’s VAH.
     • $106,615: Second standard deviation of VWAP.
   • Traders looking to short may wait for price retracements toward these levels for better entries.
   • Support Levels: $104,029 (current session low), $102,990, and further below at $100,890.

Important Note for Traders and Investors:

This AI-driven Bitcoin price prediction focuses specifically on Bitcoin futures (December 2024 contract). Traders and investors using platforms like Coinbase or Binance should note that the price levels provided here may not align exactly with their pairs but still reflect the same directional bias. If this prediction indicates bearish momentum for Bitcoin futures, it often translates to similar bearish sentiment on their platforms.

Trading Discretion and Risk Management:

• Traders must exercise discretion and align this analysis with their strategy. The prediction offers directional bias, but entries and exits depend on individual risk management and timing.
• For instance, traders considering a short position may wait for price to retrace near $104,820 (today’s VAL), $105,210 (POC), or $105,317 (VWAP) to secure a better entry.
• Price could even revisit the VAH at $106,060 or the second standard deviation of VWAP at $106,615, demonstrating the importance of patience.

Trade at your own risk, and return to forexlive.com for additional market insights and updates on Bitcoin futures and other instruments.

Summary:

This Bitcoin price prediction highlights a slightly bearish bias (-2) with immediate resistance at $104,500-$105,317 and support at $102,990 and $100,890. Traders should watch for retracements to key levels for potential short entries while applying proper risk management.

IMPOTANT FOR ALL BITCOIN INVESTORS AND TRADERS: This analysis is for informational purposes only. Traders and investors must apply their own judgment, strategies, and risk management when acting on these insights. For continuous updates and professional views, return to forexlive.com.