PROSHARES BITCOIN ETF-USD (BITO) Stock Technical Analysis
NYSEARCA:BITO - NYSE Arca - US74347G4405 - ETF - Currency: USD
Taking everything into account, BITO scores 6 out of 10 in our technical rating. In the last year, BITO was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
When comparing the yearly performance of all stocks, BITO is a bad performer in the overall market: 62% of all stocks are doing better.
The long and short term trends are both positive. This is looking good!
BITO has an average volume of 6481900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
BITO is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BITO is lagging the market slightly.
In the last month BITO has a been trading in the 19.70 - 23.63 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
BITO has an average technical rating and the quality of the presented setup is also 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
16.97
23.66
We found 3 important support areas.
- A support zone ranging from 19.89 to 20.13. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @18.36 from a trend line in the weekly time frame.
- Support @17.14 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 22.60 to 23.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 BITO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BITO is up. |
| ChartMill Relative Strength | 38.81 | NEUTRAL | BITO is not amongst the best or worst performers 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) | UP | POSITIVE | The current price of BITO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BITO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.69 | NEUTRAL | The RSI value for BITO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests BITO has a negative trend. |
| Stochastics (14,3) | 44.23 | NEUTRAL | The Stochastics value for BITO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.82 | MEDIUM VOLATILITY | The ATR as a percentage value for BITO suggests some volalility. |
| Average Directional Index/ADX (14) | 20.63 | NEUTRAL | The ADX value for BITO suggests a possible start of a new 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)
22.01
-0.23 (-1.03%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.03%
1 Week-6.06%
2 Weeks1.1%
1 Month7.79%
3 Month12.64%
6 Month-15.8%
12 Month-19.32%
2 Year41.82%
3 Year12.12%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.62
ATR(20)%2.82%
ATR Inc-11.95%
Range Today0.53
ADR(20)0.49
ADR(20)%2.22%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS38.81
Mansfield-0.08
10 Day High23.63
10 Day Low21.59
20 Day High23.63
20 Day Low19.7
52 Week High27.88
52 Week Low16.11
CS1 End20.13
CR1 Start22.6
Volume & EV
DER(3)-5.88%
DER(5)-4.17%
Volume9.79M
Volume Incr37.81%
Vol(5)8.59M
Vol(50)6.48M