BITWISE BITCOIN ETF (BITB) Stock Technical Analysis
USA - NYSEARCA:BITB - US09174C1045 - ETF
63.57 USD
+0.84 (+1.34%)
63.53 USD
-0.04 (-0.06%)
Taking everything into account, BITB scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BITB is showing a nice and steady performance.
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 91% of all stocks. On top of that, BITB also shows a nice and consistent pattern of rising prices.
BITB is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BITB is lagging the market slightly.
In the last month BITB has a been trading in the 58.70 - 63.91 range, which is quite wide. It is currently trading near the high of this range.
BITB has an average volume of 1523020 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although BITB has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
56.75
67.54
3 important support areas can be observed.
- A support zone ranging from 60.77 to 61.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 58.86 to 59.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @57.32 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 64.31 to 65.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @66.87 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 | UP | POSITIVE | The short term trend for BITB is up. |
| ChartMill Relative Strength | 91.06 | POSITIVE | BITB has a high relative strength, it outperformed 91.06% 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) | 56.17 | NEUTRAL | The RSI value for BITB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.35 | POSITIVE | The MACD value suggests BITB has a positive trend. |
| Stochastics (14,3) | 93.55 | OVERBOUGHT | The high Stochastics value suggests BITB may be overbought. |
| Average True Range in percent/ATR (20) | 2.39 | MEDIUM VOLATILITY | The ATR as a percentage value for BITB suggests some volalility. |
| Average Directional Index/ADX (14) | 9.01 | 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 |
|---|---|---|---|
| 65.26 | 59.44 | 5.82 (8.92%) | 11.21% |
| An entry @65.26. This is a Buy Stop order right above the resistance zone. | An exit @59.44. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 5.82 points, which is 8.92%. | For a 1.00% total portfolio risk, you can invest 11.21% 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.
63.57
+0.84 (+1.34%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.34%
1 Week4.95%
2 Weeks5.49%
1 Month0.49%
3 Month13.07%
6 Month39.16%
12 Month85.71%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.32
ATR(20)%2.39%
ATR Inc-8.63%
Range Today1.24
ADR(20)1.18
ADR(20)%1.86%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.06
Mansfield0.92
10 Day High63.63
10 Day Low59.45
20 Day High63.91
20 Day Low58.7
52 Week High66.9
52 Week Low32.05
CS1 End61.72
CR1 Start64.31
Volume & EV
DER(3)1.75%
DER(5)2.08%
Volume876.10K
Volume Incr-17.45%
Vol(5)1.19M
Vol(50)1.52M