Bitcoin Price Prediction: Institutional Key Price Levels to Monitor for Bitcoin Futures
Hey there, crypto enthusiasts! If you’ve been keeping an eye on the charts this week, you might have noticed a bit of a downturn in the crypto market. BTC is down 2.5%, ETH down 3.5%, BNB over 4% down, DOGE with a significant 7.5% dip, and SHIBA nearing a 7% drop. But before you start to panic, let’s remember that this could be a typical market scenario. The expectation is that we’ll be hovering around $100K, with market makers making moves near this key psychological level. So, let’s break down the key Bitcoin levels to keep an eye on and what they mean for your trading strategy.
Currently, Bitcoin Futures are around $99,185. It’s essential to make sure we’re all looking at the same data when referencing these price levels. Here’s the breakdown of the key zones to watch:
1. The Bounce Zone: This area ranges from $97,750 to $98,850, with a critical bounce point at $97,375. If Bitcoin can’t hold this zone, we might see a further slide into crucial naked levels.
2. The Value Area Low (VAL): This range sits between $95,400 to $96,000. The Value Area is where the majority of trading activity occurs, historically a point of agreement for buyers and sellers. If BTC falls into this range, it’s a significant decision point for the next move.
3. VWAP Support: The Volume Weighted Average Price (VWAP) is around $94,000 and often acts as a dynamic support level. A bounce here could signal renewed buying interest.
4. Bears’ Confidence Zone: Keep an eye on the trigger level at $91,500. A break below this level, especially with two consecutive daily closes, could trigger stop orders and lead to a more rapid decline.
In terms of trading strategy, if you’re contemplating whether to go long or short, consider the following:
For long entry ideas:
– Look for a bounce at $97,750, with a tight stop near $97,375.
– If $97K fails, wait for the $95,400 to $95,500 zone to enter a position.
– The VWAP around $94,000 could be a final stop before a significant move higher.
For exit targets and the bearish scenario, check the article for more details. Remember, trading Bitcoin comes with risks, so always trade responsibly. Good luck out there, traders! 👋
