BITWISE BITCOIN ETF (BITB) Stock Technical Analysis
NYSEARCA:BITB - NYSE Arca - US09174C1045 - ETF - Currency: USD
Overall BITB gets a technical rating of 10 out of 10. Both in the recent history as in the last year, BITB has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that BITB is one of the better performing stocks in the market, outperforming 92% of all stocks.
BITB is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
BITB is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
BITB has an average volume of 1377440 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 very little resistance above the current price.
More info and screens
54.10
64.51
We found 3 important support areas.
- A support zone ranging from 59.77 to 60.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 57.75 to 58.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 54.65 to 56.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The short term trend for BITB is up. |
| ChartMill Relative Strength | 92.43 | POSITIVE | BITB has a high relative strength, it outperformed 92.43% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITB is above the rising 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) | 62.42 | NEUTRAL | The RSI value for BITB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.41 | POSITIVE | The MACD value suggests BITB has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.5 | NEUTRAL | The Stochastics value for BITB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for BITB suggests some volalility. |
| Average Directional Index/ADX (14) | 18.81 | 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 |
|---|---|---|---|
| 66.50 | 58.45 | 8.05 (12.11%) | 8.26% |
| An entry @66.50. This is a Buy Stop order right above the 10 day high. | An exit @58.45. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 8.05 points, which is 12.11%. | For a 1.00% total portfolio risk, you can invest 8.26% of your capital in this trade. |
- 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.
63.87
-0.89 (-1.37%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.37%
1 Week-0.68%
2 Weeks7.38%
1 Month13%
3 Month38.16%
6 Month11.9%
12 Month74.27%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.59
ATR(20)%2.41%
ATR Inc-17.34%
Range Today1.18
ADR(20)1.18
ADR(20)%1.84%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.43
Mansfield2.43
10 Day High66.49
10 Day Low58.46
20 Day High66.49
20 Day Low54.24
52 Week High66.49
52 Week Low27.02
CS1 End60.6
CR1 StartN/A
Volume & EV
DER(3)-3.26%
DER(5)-3.82%
Volume1.76M
Volume Incr29.6%
Vol(5)1.77M
Vol(50)1.38M