Birake USD Cryptocurrency Forecast

Birake USD cryptocurrency upgraded to Sell Candidate.
(Updated on Jul 02, 2024)

BIRUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Saturday, June 22, 2024, and so far it has risen 24.35%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Birake USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0009 and $0.0010. A break-up above any of these levels will issue buy signals. Birake USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Birake USD cryptocurrency

Birake USD finds support from accumulated volume at $0.0008 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000068 between high and low, or 8.47%. For the last week, the cryptocurrency has had daily average volatility of 26.96%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BIRUSD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Birake USD to open at $0.0008, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0010, which gives a possible trading interval of +/-$0.0002 (+/-27.22%) up or down from last closing price. If Birake USD takes out the full calculated possible swing range there will be an estimated 54.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0008 (1.60%) than the resistance at $0.0009 (9.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Birake USD cryptocurrency A Buy?

Birake USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.172 Sell Candidate Upgraded

Predicted Opening Price for Birake USD of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.