GRAYSCALE BITCN MINI TRU ETF (BTC) Stock Technical Analysis
NYSEARCA:BTC - NYSE Arca - US3899302075 - ETF - Currency: USD
Taking everything into account, BTC scores 5 out of 10 in our technical rating. BTC was a bad performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term this still looks good.
BTC has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 45.73, a Stop Loss order could be placed below this zone.
More info and screens
44.68
When analyzing the support we notice one important area.
- A support zone ranging from 45.13 to 45.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- Resistance @49.31 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 | UP | POSITIVE | The long term trend for BTC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BTC is neutral. |
| ChartMill Relative Strength | 0 | NEGATIVE | BTC has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BTC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BTC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BTC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.98 | NEUTRAL | The RSI value for BTC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.38 | NEGATIVE | The MACD value suggests BTC has a negative trend. |
| Stochastics (14,3) | 26.55 | NEUTRAL | The Stochastics value for BTC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.85 | MEDIUM VOLATILITY | The ATR as a percentage value for BTC suggests some volalility. |
| Average Directional Index/ADX (14) | 15.2 | NEGATIVE | The low ADX value for BTC suggests a weak or negative trend. |
45.74
-0.27 (-0.59%)