Currently, Bitcoin (BTC) is trading at 100,105 USD. Futures trading needs to be based on technical analysis, market sentiment, and fundamental factors to determine optimal entry and exit points.
Technical Analysis:
1. Support and Resistance Levels:
• Strong Support:
• 95,000 USD: This is a key support level where BTC has tested and bounced multiple times.
• 90,000 USD: A deeper support if the price breaks below 95,000 USD.
• Major Resistance:
• 105,000 USD: This is a strong resistance level where selling pressure may increase.
• 110,000 USD: The next psychological resistance level if BTC surpasses 105,000 USD.
2. Relative Strength Index (RSI):
• RSI from 30–70: Neutral market, not overbought or oversold.
• RSI below 30: Oversold signal, potential buying opportunity.
• RSI above 70: Overbought signal, potential selling opportunity.
3. Futures Trading Strategy:
Buying Point (Long BTC):
1. Price Range: 95,000–97,000 USD.
• Price touches strong support or breaks up after testing support.
• Signal: RSI below 35 and a bullish reversal candle appears.
2. Breakout: If BTC breaks above 105,000 USD with high trading volume, a Long position can be opened with a target of 110,000 USD.
Selling Point (Short BTC):
1. Price Range: 105,000–107,000 USD.
• Price touches strong resistance or reverses down.
• Signal: RSI above 70 or a bearish candle pattern.
2. Breakdown: If BTC breaks below 95,000 USD, a Short position can be opened with the next target being 90,000 USD.
Risk Management:
1. Stop-Loss:
• Long BTC: Set stop-loss below 94,000 USD.
• Short BTC: Set stop-loss above 107,000 USD.
2. Take-Profit:
• Long BTC: Target 105,000–110,000 USD.
• Short BTC: Target 95,000–90,000 USD.