GRAYSCALE BITCOIN TRUST ETF (GBTC) Technical Analysis
NYSEARCA:GBTC • US3896371099
Current stock price
GBTC Technical Rating and Analysis
Overall GBTC gets a technical rating of 4 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. GBTC was also a bad performer in the overall market in the last year.
- 85% of all other stocks performed better in the past year than GBTC.
- GBTC is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month GBTC has a been trading in the 50.99 - 61.85 range, which is quite wide. It is currently trading near the high of this range.
- GBTC has an average volume of 3423590 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
GBTC Weekly and Daily overview Charts
GBTC Setup Rating and Analysis
GBTC has an average technical rating and it also does not offer a high 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
GBTC Support and Resistance Analysis
49.73
3 important support areas can be observed.
- A support zone ranging from 58.34 to 58.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 52.02 to 52.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @50.23 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 61.38 to 61.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
GBTC Technical Indicator Signal Analysis
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 GBTC is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GBTC is up. |
| ChartMill Relative Strength | 15.98 | NEGATIVE | GBTC has a low relative strength, it was outperformed by 84.02% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GBTC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GBTC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GBTC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 65.44 | NEUTRAL | The RSI value for GBTC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.63 | POSITIVE | The MACD value suggests GBTC has a positive trend. |
| Stochastics (14,3) | 84.05 | OVERBOUGHT | The high Stochastics value suggests GBTC may be overbought. |
| Average True Range in percent/ATR (20) | 3.2 | MEDIUM VOLATILITY | The ATR as a percentage value for GBTC suggests some volalility. |
| Average Directional Index/ADX (14) | 14.39 | NEGATIVE | The low ADX value for GBTC suggests a weak or negative trend. |
GBTC Chart- and CandleStick Pattern Analysis
GBTC Technicals: Chart, Performance Metrics, Trend & Indicators
61.37
+3.02 (+5.18%)
GRAYSCALE BITCOIN TRUST ETF / GBTC TA FAQ
What is the ChartMill technical rating of GRAYSCALE BITCOIN TRUST ETF (GBTC) stock?
ChartMill assigns a technical rating of 4 / 10 to GBTC.
What is the trend direction for GBTC stock?
The current trend direction for GRAYSCALE BITCOIN TRUST ETF (GBTC) is Bearish.
What is the RSI signal for GBTC stock?
GRAYSCALE BITCOIN TRUST ETF (GBTC) has an RSI value of 65.4404. This indicates that the stock is currently neutral.
Can you provide the short term momentum for GRAYSCALE BITCOIN TRUST ETF?
The short term momentum for GRAYSCALE BITCOIN TRUST ETF (GBTC) is positive.
What is the support and resistance level for GBTC stock?
GRAYSCALE BITCOIN TRUST ETF (GBTC) has a support level at 58.59 and a resistance level at 61.38. Check the full technical report for our detailed analysis of GBTC support and resistance levels.