BITWISE BITCOIN ETF (BITB) Stock Technical Analysis
NYSEARCA:BITB - NYSE Arca - US09174C1045 - ETF - Currency: USD
Overall BITB gets a technical rating of 8 out of 10. In the last year, BITB was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month BITB has a been trading in the 55.28 - 60.98 range, which is quite wide. It is currently trading near the lows of this range.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, BITB did better than 93% of all other stocks.
BITB is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so BITB is performing more or less in line with the market.
BITB has an average volume of 1271730 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, BITB also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 56.21, a Stop Loss order could be placed below this zone.
More info and screens
43.76
61.13
3 important support areas can be observed.
- A support zone ranging from 55.43 to 56.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @45.54 from a trend line in the daily time frame.
- Support @44.20 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @60.52 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BITB is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BITB is neutral. |
| ChartMill Relative Strength | 93.19 | POSITIVE | BITB has a high relative strength, it outperformed 93.19% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BITB is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BITB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BITB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.09 | NEUTRAL | The RSI value for BITB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.47 | NEGATIVE | The MACD value suggests BITB has a negative trend. |
| Stochastics (14,3) | 26.83 | NEUTRAL | The Stochastics value for BITB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.85 | MEDIUM VOLATILITY | The ATR as a percentage value for BITB suggests some volalility. |
| Average Directional Index/ADX (14) | 14.23 | NEGATIVE | The low ADX value for BITB suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 57.90 | 55.69 | 2.21 (3.82%) | 25.00% |
| An entry @57.90. This is a Buy Stop order right above the 10 day moving average. | An exit @55.69. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.21 points, which is 3.82%. | For a 0.96% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BITB. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
56.22
-0.3 (-0.53%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.53%
1 Week-3.25%
2 Weeks1.41%
1 Month-4.97%
3 Month23.07%
6 Month7.07%
12 Month60.54%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.63
ATR(20)%2.85%
ATR Inc-5.18%
Range Today2.06
ADR(20)1.19
ADR(20)%2.11%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.19
Mansfield1.99
10 Day High60.1
10 Day Low55.7
20 Day High60.98
20 Day Low55.28
52 Week High60.98
52 Week Low27.02
CS1 End56.21
CR1 Start60.52
Volume & EV
DER(3)-4.99%
DER(5)-3.15%
Volume1.33M
Volume Incr-12.84%
Vol(5)1.23M
Vol(50)1.27M