Exchange Traded Concepts Trust - Bitwise ETF Forecast

Exchange Traded Concepts Trust - Bitwise ETF price down 1.21% on Thursday
(Updated on Apr 25, 2024)

BITQ Signals & Forecast

There are few to no technical positive signals at the moment. The Exchange Traded Concepts Trust - Bitwise ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $11.82. On a fall, the ETF will find some support from the short-term average at $11.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -14.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Exchange Traded Concepts Trust - Bitwise 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".

Support, Risk & Stop-loss for Exchange Traded Concepts Trust - Bitwise ETF

Exchange Traded Concepts Trust - Bitwise finds support from accumulated volume at $11.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $0.700 between high and low, or 6.42%. For the last week, the ETF has had daily average volatility of 5.57%.

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

Trading Expectations (BITQ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Exchange Traded Concepts Trust - Bitwise Crypto Industry Innovators ETF to open at $11.30, and during the day (based on 14 day Average True Range), to move between $10.75 and $12.03, which gives a possible trading interval of +/-$0.642 (+/-5.64%) up or down from last closing price. If Exchange Traded Concepts Trust - Bitwise Crypto Industry Innovators ETF takes out the full calculated possible swing range there will be an estimated 11.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.54 (1.32%) than the support at $11.04 (3.07%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Exchange Traded Concepts Trust - Bitwise Crypto Industry Innovators ETF ETF A Buy?

The Exchange Traded Concepts Trust - Bitwise ETF holds several negative signals and despite the positive trend, we believe Exchange Traded Concepts Trust - Bitwise will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.712 Sell Candidate Unchanged

Predicted Opening Price for Exchange Traded Concepts Trust - Bitwise Crypto Industry Innovators ETF of Friday, April 26, 2024

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