GRAYSCALE BITCOIN MINI ETF (BTC) Stock Technical Analysis
NYSEARCA:BTC • US3899302075
Overall BTC gets a technical rating of 0 out of 10. BTC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- When comparing the yearly performance of all stocks, BTC is a bad performer in the overall market: 89% of all stocks are doing better.
- BTC is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month BTC has a been trading in the 27.55 - 43.36 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
- BTC has an average volume of 3789690 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The technical rating of BTC is bad and it also does not present a quality setup 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
29.58
2 important resistance areas can be observed.
- Resistance @39.04 from a trend line in the weekly time frame.
- Resistance @39.86 from a trend 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 | DOWN | NEGATIVE | The long term trend for BTC is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BTC is down. |
| ChartMill Relative Strength | 11.78 | NEGATIVE | BTC has a low relative strength, it was outperformed by 88.22% 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) | DOWN | NEGATIVE | The current price of BTC is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BTC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 29.65 | OVERSOLD | The low RSI value suggests BTC may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.77 | NEGATIVE | The MACD value suggests BTC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 23.43 | NEUTRAL | The Stochastics value for BTC is a neutral value. |
| Average True Range in percent/ATR (20) | 5.97 | HIGH VOLATILITY | The high ATR as a percentage value for BTC suggests high volalility. |
| Average Directional Index/ADX (14) | 33.76 | POSITIVE | The high ADX value value for BTC suggests a strong trend. |
29.88
-0.55 (-1.81%)
GRAYSCALE BITCOIN MINI ETF / BTC FAQ
Can you provide the ChartMill technical rating for GRAYSCALE BITCOIN MINI ETF?
ChartMill assigns a technical rating of 0 / 10 to BTC.
What is the trend direction for BTC stock?
The current trend direction for GRAYSCALE BITCOIN MINI ETF (BTC) is Bearish.
What is the RSI signal for BTC stock?
GRAYSCALE BITCOIN MINI ETF (BTC) has an RSI value of 29.6539. This indicates that the stock is currently oversold.
What is the MACD signal for BTC stock?
The MACD indicator for GRAYSCALE BITCOIN MINI ETF (BTC) has a value of -0.771505, indicating a bearish trend.
Can you provide the support and resistance levels for GRAYSCALE BITCOIN MINI ETF?
GRAYSCALE BITCOIN MINI ETF (BTC) has a resistance level at 39.04. Check the full technical report for our detailed analysis of BTC support and resistance levels.