BIT DIGITAL INC (BTBT) Stock Technical Analysis
NASDAQ:BTBT - Nasdaq - KYG1144A1058 - Common Stock - Currency: USD
Taking everything into account, BTBT scores 5 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. BTBT was also a bad performer in the overall market in the last year.
Although the technical rating is only medium, BTBT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 2.63. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.35, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BTBT 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.
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2.31
When analyzing the support we notice one important area.
- A support zone ranging from 2.33 to 2.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 2.63 to 2.70. This zone is formed by a combination of multiple trend lines 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 | NEUTRAL | NEUTRAL | The long term trend for BTBT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BTBT is up. |
| ChartMill Relative Strength | 34.52 | NEUTRAL | BTBT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of BTBT is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BTBT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BTBT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.37 | NEUTRAL | The RSI value for BTBT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests BTBT has a negative trend. |
| Stochastics (14,3) | 68.12 | NEUTRAL | The Stochastics value for BTBT is a neutral value. |
| Average True Range in percent/ATR (20) | 7.24 | HIGH VOLATILITY | The high ATR as a percentage value for BTBT suggests high volalility. |
| Average Directional Index/ADX (14) | 24.64 | NEUTRAL | The ADX value for BTBT suggests a possible start of a new trend. |
2.49
-0.11 (-4.23%)