PROSHARES BITCOIN ETF-USD (BITO) Technical Analysis
NYSEARCA:BITO • US74347G4405
Current stock price
BITO Technical Rating and Analysis
Overall BITO gets a technical rating of 1 out of 10. BITO scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, BITO is a bad performer in the overall market: 91% of all stocks are doing better.
- BITO is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so BITO is lagging the market.
- BITO has an average volume of 88922500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month BITO has a been trading in the 8.68 - 10.32 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Volume is considerably higher in the last couple of days.
BITO Weekly and Daily overview Charts
BITO Setup Rating and Analysis
BITO has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. We notice that large players showed an interest for BITO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
BITO Support and Resistance Analysis
8.70
We found 1 important support area.
- A support zone ranging from 8.79 to 8.80. This zone is formed by a combination of multiple trend lines in the daily time frame.
5 important resistance areas can be observed.
- A resistance zone ranging from 9.80 to 9.81. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @9.98 from a trend line in the daily time frame.
- Resistance @10.27 from a horizontal line in the daily time frame.
- Resistance @12.63 from a trend line in the daily time frame.
- Resistance @18.39 from a trend line in the weekly time frame.
BITO Technical Indicator Signal Analysis
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 | 9.29 | NEGATIVE | BITO has a low relative strength, it was outperformed by 90.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITO is above the rising 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) | 46.35 | NEUTRAL | The RSI value for BITO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests BITO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 51.36 | NEUTRAL | The Stochastics value for BITO is a neutral value. |
| Average True Range in percent/ATR (20) | 4.2 | MEDIUM VOLATILITY | The ATR as a percentage value for BITO suggests some volalility. |
| Average Directional Index/ADX (14) | 19.73 | NEGATIVE | The low ADX value for BITO suggests a weak or negative trend. |
BITO Chart- and CandleStick Pattern Analysis
BITO Technicals: Chart, Performance Metrics, Trend & Indicators
9.67
0 (0%)
PROSHARES BITCOIN ETF-USD / BITO TA FAQ
Can you provide the ChartMill technical rating for PROSHARES BITCOIN ETF-USD?
ChartMill assigns a technical rating of 1 / 10 to BITO.
What is the current trend direction of PROSHARES BITCOIN ETF-USD (BITO) stock?
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 46.3453. This indicates that the stock is currently neutral.
What is the buy/sell signal for PROSHARES BITCOIN ETF-USD (BITO) stock?
The buy/sell signal for PROSHARES BITCOIN ETF-USD (BITO) is sell as both the short term and long term trends are negative.
Can you provide the support and resistance levels for PROSHARES BITCOIN ETF-USD?
PROSHARES BITCOIN ETF-USD (BITO) has a support level at 8.8 and a resistance level at 9.8. Check the full technical report for our detailed analysis of BITO support and resistance levels.