2X BITCOIN STRATEGY ETF (BITX) Stock Technical Analysis
USA - NYSEARCA:BITX - US92864M3016 - ETF
Taking everything into account, BITX scores 3 out of 10 in our technical rating. Although BITX is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
BITX has a poor technical rating and the quality of the setup is also only medium 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.
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21.14
We found 2 important support areas.
- A support zone ranging from 46.86 to 47.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @21.35 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 5 important areas.
- Resistance @51.67 from a horizontal line in the daily time frame.
- A resistance zone ranging from 54.68 to 55.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @65.22 from a horizontal line in the weekly time frame.
- Resistance @66.36 from a horizontal line in the daily time frame.
- Resistance @67.81 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 | NEUTRAL | NEUTRAL | The long term trend for BITX is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BITX is down. |
| ChartMill Relative Strength | 82.11 | POSITIVE | BITX has a high relative strength, it outperformed 82.11% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of BITX is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BITX is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BITX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 43.41 | NEUTRAL | The RSI value for BITX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.73 | NEGATIVE | The MACD value suggests BITX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 20.09 | NEUTRAL | The Stochastics value for BITX is a neutral value. |
| Average True Range in percent/ATR (20) | 7.73 | HIGH VOLATILITY | The high ATR as a percentage value for BITX suggests high volalility. |
| Average Directional Index/ADX (14) | 16.27 | NEGATIVE | The low ADX value for BITX suggests a weak or negative trend. |
50.28
+0.29 (+0.58%)
2X BITCOIN STRATEGY ETF / BITX FAQ
Can you provide the ChartMill technical rating for 2X BITCOIN STRATEGY ETF?
ChartMill assigns a technical rating of 3 / 10 to BITX.
What is the trend direction for BITX stock?
The current trend direction for 2X BITCOIN STRATEGY ETF (BITX) is Bearish.
What is the RSI signal for 2X BITCOIN STRATEGY ETF (BITX) stock?
2X BITCOIN STRATEGY ETF (BITX) has an RSI value of 43.4086. This indicates that the stock is currently neutral.
What is the short term momentum for BITX stock?
The short term momentum for 2X BITCOIN STRATEGY ETF (BITX) is negative.
What is the support and resistance level for BITX stock?
2X BITCOIN STRATEGY ETF (BITX) has a support level at 47.49 and a resistance level at 51.67. Check the full technical report for our detailed analysis of BITX support and resistance levels.