Analytical Overview and Trading Examples for BTC/USDT on 30.10.2024

[Bitcoin]

Analytical Overview and Trading Examples for BTC/USDT on 30.10.2024

Current Bitcoin (BTC) Price: $72,298.87 USDT (up by 1.74% over the last 24 hours) 
24-hour Trading Volume: approximately $50.45 billion


1. Introduction 
Today, Bitcoin continues its upward trend, increasing nearly 7% over the last month. Over the past year, the asset has seen a notable growth of 53%, highlighting its high demand. Contributing to this growth is a stable macroeconomic environment in the U.S., along with recent statements by the Federal Reserve regarding interest rates, which increase investor interest in scarce assets like BTC.


2. Technical Analysis 
Key levels to watch for BTC/USDT trading decisions are:

Support: 
-- Daily timeframe: $70,500 
-- Hourly timeframe: $71,000 

Resistance: 
-- Daily timeframe: $73,600 
-- Hourly timeframe: $72,800 

-- MA50 and MA200 indicate an upward trend, although the current price is close to the MA50 line, suggesting a possible correction. 
-- RSI (67) is on the edge of the overbought zone. 
-- MACD remains in an upward position, confirming positive momentum. 
-- Fibonacci Levels show key support around $70,500, corresponding to the 0.618 correction level. 
-- Bollinger Bands indicate an expansion, suggesting high volatility. 
-- VWAP at $71,300 may serve as an advantageous entry point for long positions if it rebounds.

Elliott Wave Analysis: The current structure is unfolding within an impulse wave; wave 3 may be completing, with a corrective wave 4 likely around $70,500 - $71,000.


3. Volume Analysis 
-- Open Interest: An increase in long positions reflects market participants' confidence in the continuation of the uptrend. 
-- Liquidations: Over the past 24 hours, short position liquidations dominate around the $71,500 level, supporting the bullish momentum. 
-- Options data: The nearest significant expiries are between $72,000 - $73,000, which could increase volatility in this range.


4. Forecast and Strategy 
Based on current technical and volume data, a long strategy with target levels and stop-losses is recommended:

-- Capital: 1000 USDT with 20x leverage 
-- Entry point: $71,300 
-- Take-profit: $73,000 
-- Stop-loss: $70,500 
Expected profit on a successful trade would be around 47.6%, with an acceptable risk up to 25%.


5. Trading Examples with Futures and Options on Binance 
To better understand the practical application of futures and options, here are a few recent real-life trading examples:

1. **Long position on BTC/USDT using futures** 
   -- Entry date: October 28, 2024 
   -- Entry level: 69,500 USDT 
   -- Exit level: 71,400 USDT on October 29, 2024 
   -- Capital and leverage: initial capital of 1,000 USDT with 20x leverage 
   -- Result: Profit reached approximately 546.76 USDT over one day, demonstrating a cautious approach to short-term growth with margin leverage.

2. **Option strategy using a call option** 
   -- Purchase date: October 28, 2024 
   -- Strike price: 68,000 USDT 
   -- Option premium: about 5% of the contract value 
   -- Scenario: The call option would yield a profit of approximately 918.64 USDT at a price level of 71,366.01 USDT after accounting for the premium, confirming the high potential profit in cases of expected growth.

3. **Short position on BTC/USDT using futures** 
   -- Position opening date: October 29, 2024 
   -- Entry level: 71,500 USDT 
   -- Target exit price: 69,500 USDT 
   -- Capital and leverage: 1,000 USDT with 20x leverage 
   -- Result: This position would yield an approximate profit of 559.44 USDT, showing the effectiveness of using margin strategies for a short-term pullback.

These examples illustrate diverse approaches: futures allow for profiting from price movement, while options provide efficient risk management and a way to capitalize on volatility.


6. Fundamental Analysis 
Stable macroeconomic data from the U.S. and strong demand for limited-supply assets like BTC support the current uptrend. Large investors are increasing their buying volumes, while institutional interest is heightened through Bitcoin ETFs.


Conclusion 
A long position with risk-adjusted levels appears favorable. Join the trading community and take advantage of competitive conditions on the platform:

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