GRAYSCALE BITCN MINI TRU ETF (BTC) Stock Technical Analysis
USA - NYSEARCA:BTC - US3899302075 - ETF
51.77 USD
+0.7 (+1.37%)
51.832 USD
+0.06 (+0.12%)
We assign a technical rating of 9 out of 10 to BTC. Both in the recent history as in the last year, BTC has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
BTC is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month BTC has a been trading in the 47.81 - 52.03 range, which is quite wide. It is currently trading near the high of this range.
BTC has an average volume of 1260500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, BTC did better than 99% of all other stocks. We also observe that the gains produced by BTC over the past year are nicely spread over this period. However, this overall performance is mostly based on the strong move around 10 months ago.
BTC has an excellent technical rating, but the quality of the setup is 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.
More info and screens
46.19
54.99
We found 3 important support areas.
- A support zone ranging from 49.48 to 51.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 47.92 to 48.59. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @46.66 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 52.39 to 53.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @54.45 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 | UP | POSITIVE | The short term trend for BTC is up. |
| ChartMill Relative Strength | 99.46 | POSITIVE | BTC has a high relative strength, it outperformed 99.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BTC is above the rising 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) | 56.26 | NEUTRAL | The RSI value for BTC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.29 | POSITIVE | The MACD value suggests BTC has a positive trend. |
| Stochastics (14,3) | 93.48 | OVERBOUGHT | The high Stochastics value suggests BTC may be overbought. |
| Average True Range in percent/ATR (20) | 2.39 | MEDIUM VOLATILITY | The ATR as a percentage value for BTC suggests some volalility. |
| Average Directional Index/ADX (14) | 9 | NEGATIVE | The low ADX value for BTC suggests a weak or negative 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 53.15 | 48.39 | 4.76 (8.95%) | 11.18% |
| An entry @53.15. This is a Buy Stop order right above the resistance zone. | An exit @48.39. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.76 points, which is 8.95%. | For a 1.00% total portfolio risk, you can invest 11.18% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
51.77
+0.7 (+1.37%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.37%
1 Week4.97%
2 Weeks5.48%
1 Month0.5%
3 Month13.18%
6 Month39.2%
12 Month827.78%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.07
ATR(20)%2.39%
ATR Inc-9.47%
Range Today1
ADR(20)0.96
ADR(20)%1.85%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS99.46
Mansfield2.03
10 Day High51.81
10 Day Low48.4
20 Day High52.03
20 Day Low47.81
52 Week High54.48
52 Week Low5.22
CS1 End51.06
CR1 Start52.39
Volume & EV
DER(3)1.51%
DER(5)0.51%
Volume812.70K
Volume Incr-18.75%
Vol(5)943.78K
Vol(50)1.26M