Bitcoin price prediction by AI

December 19, 2024 at 06:19AM
Bitcoin Futures Analysis: Key Levels, Insights, and AI Predictions

Important Note for Bitcoin Traders

Before diving into this analysis, it’s crucial to identify the time this analysis was generated and assess where Bitcoin’s price is when you’re reading it. Most importantly, carefully review the key levels to watch, as these can guide your trading decisions. For instance, the AI may predict slight bullishness initially, but highlights a key level above where sellers might step in. If price reaches that level, you might consider a short trade instead of a long, even if the earlier bias was bullish. Know where you are on the map and trade wisely.

Bitcoin Directional Bias Score

AI Bias Score: +2 (Slightly Bullish)
Bitcoin futures currently exhibit modest buyer activity near $100,528, testing today’s VWAP. For bullish momentum to strengthen, price must push past 102,240 (Naked YVAL). However, sellers may step in aggressively near 103,600 (Yesterday’s VWAP) and 104,400 (Naked YPOC). Watch these levels for potential reversals.

Key Volumetric Insights for Bitcoin Futures

Buyer and Seller Activity:

Buyers are showing moderate strength, with cumulative delta gradually improving in the last few bars. However, sell volume remains a threat near resistance levels.

VWAP Levels as Pivots:

Today’s VWAP (100,528) is a key support level for intraday trades. If price fails to hold above this, expect a test of lower levels like 99,892 or even 96,200 (Naked Level).

Resistance is strong near 103,600, where sellers may bet on a rejection.

Key Levels to Watch:

94500: Naked support level, a crucial downside target if bearish momentum picks up.

96200: Another naked level that could act as intermediate support.

102240 (Naked YVAL): A potential pivot point for a breakout or rejection.

104400 (Naked YPOC): A magnet level where sellers may enter aggressively.

106230 (Naked VAH): If bulls dominate, this is a strong target where profit-taking might occur.

These insights shape the BTC price prediction and help traders identify areas where Bitcoin’s price may react significantly.

Final Note for Bitcoin Traders

This analysis highlights critical areas where Bitcoin futures may encounter significant price reactions. While the AI predicts slight bullishness, remember that key levels like 103,600 and 104,400 could still attract sellers. Monitor how Bitcoin interacts with these levels and adjust your trading strategy accordingly. Always trade at your own risk.

Disclaimer:

This Bitcoin price prediction is for informational purposes only and does not constitute financial advice. Always use proper risk management and consult a professional if needed. Visit ForexLive.com for additional views.

This article was written by Itai Levitan at www.forexlive.com.