GRAYSCALE BITCOIN TRUST ETF (GBTC) Stock Technical Analysis
USA - NYSEARCA:GBTC - US3896371099 - ETF
91.42 USD
-3.48 (-3.67%)
88.67 USD
-2.75 (-3.01%)
We assign a technical rating of 8 out of 10 to GBTC. In the last year, GBTC was one of the better performers, but we do observe some doubts in the very recent evolution.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
When comparing the yearly performance of all stocks, we notice that GBTC is one of the better performing stocks in the market, outperforming 89% of all stocks. We also observe that the gains produced by GBTC over the past year are nicely spread over this period.
GBTC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GBTC is lagging the market slightly.
GBTC has an average volume of 2561190 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month GBTC has a been trading in the 85.17 - 99.12 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Although GBTC has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
82.13
99.41
We found 3 important support areas.
- A support zone ranging from 87.19 to 87.77. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 84.99 to 84.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @82.96 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 96.36 to 96.60. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @98.43 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 GBTC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for GBTC is neutral. |
| ChartMill Relative Strength | 89.9 | POSITIVE | GBTC has a high relative strength, it outperformed 89.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of GBTC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of GBTC is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GBTC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.41 | NEUTRAL | The RSI value for GBTC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.34 | POSITIVE | The MACD value suggests GBTC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 65.93 | NEUTRAL | The Stochastics value for GBTC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.83 | MEDIUM VOLATILITY | The ATR as a percentage value for GBTC suggests some volalility. |
| Average Directional Index/ADX (14) | 14.43 | NEGATIVE | The low ADX value for GBTC 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)
91.42
-3.48 (-3.67%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-3.67%
1 Week-5.13%
2 Weeks6.74%
1 Month-0.36%
3 Month-1.74%
6 Month37.95%
12 Month81.86%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.86
ATR(20)%2.83%
ATR Inc60.21%
Range Today5.3
ADR(20)1.92
ADR(20)%2.1%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.9
Mansfield0.7
10 Day High99.12
10 Day Low87.97
20 Day High99.12
20 Day Low85.17
52 Week High99.12
52 Week Low51.48
CS1 End87.77
CR1 Start96.36
Volume & EV
DER(3)-2.99%
DER(5)-2.56%
Volume8.85M
Volume Incr139.99%
Vol(5)5.83M
Vol(50)2.56M