🚀 Bitcoin Price Prediction by AI and: Key Levels to Watch for Current Range-Bound Trading 📊
Current Overview: Bitcoin Futures (December Contract)
Bitcoin futures are currently consolidating within a well-defined range as buyers struggle to gain control, and sellers maintain slight dominance. Price remains capped at key resistance while testing critical support levels, creating a range-bound market with a slight bearish tilt.
📉 Prediction Summary:
Score: -3 (Slight Bearish Bias with Neutral Momentum)
🔑 Key Levels to Watch
-
Resistance Levels (Upper Range):
- $105,440: Initial resistance that has repeatedly capped upward moves.
- $105,850: Today’s first upper VWAP standard deviation, acting as a key breakout trigger.
-
Support Levels (Lower Range):
- $103,325: Today’s Value Area Low (VAL).
- $102,500: Significant support aligning with historical Value Area Highs (VAH) from 3 and 5 days ago.
-
Deeper Downside Targets:
- $101,400: Prior VWAP confluence.
- $100,890: Naked Value Area Low, which could attract price if support breaks.
- Measured move projection targets $94,950 if the current range fails decisively.
🕵️ Updated Key Observations
-
Early Signs of Buyer Activity (20:00):
Buyers showed some initial momentum, but volumes were balanced, indicating no decisive push higher. -
Sellers Take Control Near Resistance (23:00):
Sellers began to dominate near key resistance levels, as buyers failed to follow through. -
Stronger Sell Pressure Develops (08:00):
Sellers maintained control with notable bearish momentum, pushing price downward. -
Momentum Stalls (12:00):
Volumes balanced out, signaling indecision. Buyers made a small improvement, but it lacked conviction.
📈 Bullish Scenario: Signs to Look For
For Bitcoin to break out to the upside:
- Price must reclaim $105,440 and sustain above $105,850.
- Watch for:
- Increasing positive Delta Change and stronger Delta SL values.
- Rising buy volumes showing buyer strength.
- Target if bullish momentum builds: $107,860 and higher.
📉 Bearish Scenario: Key Conditions
If Bitcoin breaches support:
- Failure to hold above $103,325 could open the door to test $102,500.
- Further breakdowns could target:
- $101,400 (VWAP confluence).
- $100,890 (naked VAL).
- Measured move projection suggests downside targets near $94,950 if sellers accelerate
⚠️ Bitcoin is Range-Bound with a Slight Bearish Bias
Bitcoin futures remain range-bound, with a slight bearish bias due to continued sell pressure and weak buyer momentum. Traders and investors should monitor key levels and volumetric stats for directional clues.
🔍 Remember:
- Trade responsibly and manage risk carefully.
- Always confirm moves before entering trades.
- Stay patient and flexible—breakouts and breakdowns are possible from this range.
🚨 Disclaimer: Trade at your own risk. This analysis is for informational purposes only and does not constitute financial advice. 📉📈
Visit ForexLive.com for additional views.
