using open interest to predict price of bitcoin

[cafter]

what is open interest on exchanges, it's not very easy to understand for me, and
how can we use "Futures Open Interest" to predict bitcoin price at a certain period?

Edit:

After finding on this forum via search, i found this thread,
it explains BTC futures in detail so check it out if you want more knowledge on futures.

also help me to use open interest to predict the price.  

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[Faisal2202]

what is open interest on exchanges, it's not very easy to understand for me, and
how can we use "Futures Open Interest" to predict bitcoin price at a certain period?

From what i have learnt so far, Open interest means open positions or open trades. Simple explanation is, it's the current number of open trades but only in future. So, if you could come to know the intensity of open interest then with combining other TA and FA, you might use this measurement as indicator for price. But, i don't think a newbie could handle this information.

But the most simple help it might give to us, But according to me is, When the price is going up and the open interest is also rising then its means the market is bullish and vice versa. Other, than that, it depends on your need like how you use it. Because many traders used to make their own strategies and could use this indicator in them. I think if you could use the fear and greed indicator combined with this indicator then you might get more accurate results of bullishness and the bearishness of the market.

[Dunamisx]

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These could also implies when you have been placed with varieties of open future trades, you will be given the opportunity that comes with such and right there you would have seen the probable amount you are going to gained after that trade is completed in the future, you will set a limit target on the price and open a position for your future trade, there's more to discuss on this if you could move your thread to trading discussion where other members could give more informations about this discussion on open interest.

[mk4]

also help me to use open interest to predict the price.  

Open interest can't necessarily predict price. You can only use the open interest metric to find out how much money is being used for shorting/longing bitcoin or whatever asset that's tradable on a futures exchange.

[palle11]

also help me to use open interest to predict the price.  

How can you use open interest to predict price? Open interest is the number of active hodlers in the market. They are open positions that have not yet expired.
By your own chart, you can only predict the price with what you have analysed that are open for either long or short. It is not automatic or facts but based on your own sentiment from what is happening in the market. You can check for numbers of long or frequency of short and at what price range to do a prediction, maybe that is what you are talking about but that may be difficult to do and not scientific nor certain.