BitRewards USD Cryptocurrency Forecast
BitRewards USD cryptocurrency price down 1.11% on Friday
(Updated on Apr 26, 2024)
The BitRewards USD cryptocurrency price fell by -1.11% on the last day (Friday, 26th Apr 2024) from $1.14 to $1.12. During the last trading day the cryptocurrency fluctuated 1.75% from a day low at $1.12 to a day high of $1.14. The price has risen in 7 of the last 10 days and is up by 1.89% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -64 thousand shares and in total, 27 thousand shares were bought and sold for approximately $30.24 thousand.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.07 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 64.99% during the next 3 months and, with a 90% probability hold a price between $1.76 and $2.66 at the end of this 3-month period.
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BITUSD Signals & Forecast
There are few to no technical positive signals at the moment. The BitRewards 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 $1.18 and $1.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -24.00%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BitRewards USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $1.02 and $0.94. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, BitRewards USD finds support just below today's level at $1.02. If this is broken, then the next support from accumulated volume will be at $0.94 and $0.92.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0195 between high and low, or 1.75%. For the last week the cryptocurrency has had daily average volatility of 4.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BITUSD) For The Upcoming Trading Day Of Saturday 27th
For the upcoming trading day on Saturday, 27th we expect BitRewards USD to open at $1.13, and during the day (based on 14 day Average True Range), to move between $1.04 and $1.21, which gives a possible trading interval of +/-$0.0827 (+/-7.35%) up or down from last closing price. If BitRewards USD takes out the full calculated possible swing range there will be an estimated 14.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.21 (7.33%) than the support at $1.02 (9.30%), 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 BitRewards USD cryptocurrency A Buy?
The BitRewards USD cryptocurrency holds several negative signals and despite the positive trend, we believe BitRewards USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -3.302 Sell Candidate Unchanged
Predicted Opening Price for BitRewards USD of Saturday, April 27, 2024
| Fair opening price April 27, 2024 | Current price |
|---|---|
| $1.13 ( 0.287%) | $1.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BITUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.15 | 2.02 % | |
| R2 | 1.14 | 1.36 % | ||
| R1 | 1.13 | 0.95 % | ||
| Current price: | 1.12 | |||
| Support | S1 | 1.12 | -0.376 % | |
| S2 | 1.12 | -0.786 % | ||
| S3 | 1.11 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.35 | 19.90 % | |
| R2 | 1.27 | 13.14 % | ||
| R1 | 1.21 | 7.33 % | ||
| Current price | 1.12 | |||
| Support | S1 | 1.02 | -9.30% | |
| S2 | 0.94 | -16.20% | ||
| S3 | 0.92 | -18.25% |
FAQ
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