Bitcoin Price Prediction by AI: Key Levels to Watch for Traders and Investors
As Bitcoin continues to dominate the cryptocurrency market, traders and investors are constantly seeking insights into its price movements. Leveraging cutting-edge AI-based analysis, we aim to provide a clearer picture of Bitcoin's current market dynamics and potential price trajectory. Our AI-driven analysis suggests a moderately bearish outlook, with a score of -5
Buckle up, you bears! š»š
Word on the street is the big money players are eyeing $90,170 like hungry sharks circling a wounded tuna.
TL;DR: $90,170 is where the bulls come to play. Don't get caught on the wrong side of the trade, or you'll be swimming with the fishes, so consider taking partial profits if it gets close to there, and if you're shoring. š š
Current Market Snapshot of Bitcoin Futures,11:16āÆAM, Monday, December 23, 2024, Eastern Time (ET)
Bitcoin is currently trading near $93k, following a rejection at the VWAP (Volume Weighted Average Price) at apx. $94,750. The price has slipped below critical levels, including the first lower standard deviation of the VWAP, indicating increased selling pressure. This development places the focus on whether Bitcoin can regain upward momentum or continue its descent toward lower support levels.
Key Levels to Monitor for Bitcoin Futures
Resistance Levels:
- VWAP at $94,750: A significant barrier that Bitcoin must overcome for any bullish momentum to take hold.
- $96,415: The first major resistance above the VWAP, aligning with historical liquidity zones.
- $98,020: A psychological resistance level that traders may target during a bullish rally.
Support Levels:
- $93,829: The value area low (VAL) from recent sessions, a key support zone to watch for potential buyer interest.
- $92,854: A deeper support level, representing the next critical line of defense for bulls if selling pressure persists.
Trend Indicators:
- The cumulative delta remains negative, reflecting sustained selling pressure.
- Recent volumetric data shows lower buy volume compared to sell volume, confirming bearish momentum.
AI-Powered Bitcoin Price Prediction
. Key insights influencing this prediction include:
- Sustained Downtrend: The price has consistently failed to hold above the VWAP, and sellers are dominating the order flow.
- Lack of Bullish Continuation: While occasional positive delta bars have appeared, the follow-through has been weak, limiting the chances of a sustained recovery.
- Volume Decline: A steady decrease in trade volume and buyer activity reduces the likelihood of a sharp upward reversal.
What to Expect Next for BTC
- Bearish Continuation: If Bitcoin fails to reclaim the VWAP at $94,965, the price is likely to test the support zone at $93,829, with a possible extension to $92,854.
- Consolidation Range: Bitcoin could stabilize near current levels, forming a trading range between $93,800 and $95,000, before deciding its next directional move.
- Bullish Scenario: A breakout above $94,965 and sustained buying activity could target $96,415 and higher, signaling a potential reversal.
- For lower key price levels, check out our technical analysis for Bitcoin during Christmas
For Traders and Investors
For short-term traders, the focus should remain on the VWAP and cumulative delta shifts, as these provide real-time insights into buyer-seller dynamics. Long-term investors, however, should monitor key support levels like $92,854, which historically attract significant buying interest, offering potential entry points.
While Bitcoinās recent price action suggests caution for bullish traders, it also highlights opportunities for those prepared to navigate the current downtrend. Leveraging AI-based insights, traders can better align their strategies with market conditions. Stay tuned for further updates as we continue to refine our Bitcoin price predictions by AI and provide actionable insights for the community.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your research before trading or investing.
