PROSHARES BITCOIN ETF-USD (BITO) Stock Technical Analysis
USA - NYSEARCA:BITO - US74347G4405 - ETF
20.14 USD
+0.4 (+2.03%)
20.07 USD
-0.07 (-0.35%)
Overall BITO gets a technical rating of 1 out of 10. BITO has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
BITO has an average volume of 10817700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, BITO turns out to be only a medium performer in the overall market: it outperformed 45% of all stocks.
BITO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BITO is lagging the market.
In the last month BITO has a been trading in the 18.83 - 21.48 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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
18.09
23.66
We found 2 important support areas.
- A support zone ranging from 18.94 to 19.07. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @18.27 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 21.16 to 21.71. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 22.88 to 23.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @23.43 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 | 45.38 | NEUTRAL | BITO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BITO is above 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) | 48.98 | NEUTRAL | The RSI value for BITO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests BITO has a positive trend. |
| Stochastics (14,3) | 49.17 | NEUTRAL | The Stochastics value for BITO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.48 | MEDIUM VOLATILITY | The ATR as a percentage value for BITO suggests some volalility. |
| Average Directional Index/ADX (14) | 17.77 | NEGATIVE | The low ADX value for BITO 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)
20.14
+0.4 (+2.03%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.03%
1 Week4.68%
2 Weeks-0.54%
1 Month-5.8%
3 Month-4.37%
6 Month6.73%
12 Month11.15%
2 Year45.84%
3 Year67.97%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.48
ATR(20)%2.48%
ATR Inc-41.63%
Range Today0.37
ADR(20)0.39
ADR(20)%1.96%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS45.38
Mansfield-1.52
10 Day High20.16
10 Day Low18.83
20 Day High21.48
20 Day Low18.83
52 Week High27.88
52 Week Low16.48
CS1 End19.07
CR1 Start21.16
Volume & EV
DER(3)4.3%
DER(5)3.11%
Volume11.91M
Volume Incr-25.04%
Vol(5)9.25M
Vol(50)10.82M