PROSHARES BITCOIN ETF-USD (BITO) Technical Analysis
NYSEARCA:BITO • US74347G4405
Current stock price
BITO Technical Rating and Analysis
We assign a technical rating of 2 out of 10 to BITO. Recently some decent action could be observed, but in the medium term time frame this is still negative. BITO was also a bad performer in the overall market in the last year.
- 92% of all other stocks performed better in the past year than BITO.
- BITO is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month BITO has a been trading in the 9.00 - 10.46 range, which is quite wide. It is currently trading near the high of this range.
- BITO has an average volume of 105354000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
BITO Weekly and Daily overview Charts
BITO Setup Rating and Analysis
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
BITO Support and Resistance Analysis
8.81
We found 2 important support areas.
- A support zone ranging from 9.05 to 9.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.90 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 10.36 to 10.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @17.91 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 | UP | POSITIVE | The short term trend for BITO is up. |
| ChartMill Relative Strength | 8.64 | NEGATIVE | BITO has a low relative strength, it was outperformed by 91.36% 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 | MIXED | The current price of BITO is above 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) | 61.72 | NEUTRAL | The RSI value for BITO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests BITO has a positive trend. |
| Stochastics (14,3) | 87.67 | OVERBOUGHT | The high Stochastics value suggests BITO may be overbought. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for BITO suggests some volalility. |
| Average Directional Index/ADX (14) | 12.21 | 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
10.35
+0.05 (+0.49%)
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 2 / 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 PROSHARES BITCOIN ETF-USD (BITO) stock?
PROSHARES BITCOIN ETF-USD (BITO) has an RSI value of 61.7229. This indicates that the stock is currently neutral.
What is the short term momentum for BITO stock?
The short term momentum for PROSHARES BITCOIN ETF-USD (BITO) is positive.
What is the buy/sell signal for BITO stock?
The buy/sell signal for PROSHARES BITCOIN ETF-USD (BITO) is hold as the short term and long term trends are mixed.