PROSHARES BITCOIN ETF-USD (BITO) Stock Technical Analysis
USA - NYSEARCA:BITO - US74347G4405 - ETF
We assign a technical rating of 0 out of 10 to BITO. BITO's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The technical rating of BITO is bad and it also does not present a quality setup 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
16.10
4 important resistance areas can be observed.
- A resistance zone ranging from 17.73 to 17.84. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @19.28 from a trend line in the weekly time frame.
- A resistance zone ranging from 20.11 to 20.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @22.88 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 | DOWN | NEGATIVE | The long term trend for BITO is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BITO is down. |
| ChartMill Relative Strength | 13.12 | NEGATIVE | BITO has a low relative strength, it was outperformed by 86.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BITO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BITO is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BITO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 37.38 | NEUTRAL | The RSI value for BITO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.19 | NEGATIVE | The MACD value suggests BITO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 14.82 | OVERSOLD | The low Stochastics value suggests BITO may be oversold. |
| Average True Range in percent/ATR (20) | 4.53 | MEDIUM VOLATILITY | The ATR as a percentage value for BITO suggests some volalility. |
| Average Directional Index/ADX (14) | 22.79 | NEUTRAL | The ADX value for BITO suggests a possible start of a new trend. |
16.26
+0.45 (+2.85%)
PROSHARES BITCOIN ETF-USD / BITO FAQ
Can you provide the ChartMill technical rating for PROSHARES BITCOIN ETF-USD?
ChartMill assigns a technical rating of 0 / 10 to BITO.
Can you provide the trend direction for PROSHARES BITCOIN ETF-USD?
The current trend direction for PROSHARES BITCOIN ETF-USD (BITO) is Bearish.
What is the RSI signal for BITO stock?
PROSHARES BITCOIN ETF-USD (BITO) has an RSI value of 37.3768. This indicates that the stock is currently neutral.
What is the MACD signal for PROSHARES BITCOIN ETF-USD (BITO) stock?
The MACD indicator for PROSHARES BITCOIN ETF-USD (BITO) has a value of -0.193979, indicating a bearish trend.
What is the short term momentum for PROSHARES BITCOIN ETF-USD (BITO) stock?
The short term momentum for PROSHARES BITCOIN ETF-USD (BITO) is negative.