Volatility Shares Trust - 2x Bitcoin ETF Forecast
Volatile ride for Volatility Shares Trust - 2x Bitcoin ETF price on Friday moving between $35.66 and $39.44
(Updated on May 10, 2024)
The Volatility Shares Trust - 2x Bitcoin ETF price fell by -5.90% on the last day (Friday, 10th May 2024) from $38.62 to $36.34. During the last trading day the ETF fluctuated 10.60% from a day low at $35.66 to a day high of $39.44. The price has been going up and down for this period, and there has been a -11.32% loss for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $209.51 million.
The ETF lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $30.93 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 ETF is expected to rise 2.24% during the next 3 months and, with a 90% probability hold a price between $31.63 and $61.90 at the end of this 3-month period.
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BITX Signals & Forecast
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 Volatility Shares Trust - 2x Bitcoin ETF 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 $37.92 and $43.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -39.10%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Volatility Shares Trust - 2x Bitcoin ETF
Volatility Shares Trust - 2x Bitcoin finds support from accumulated volume at $36.11 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 $3.78 between high and low, or 10.60%. For the last week, the ETF has had daily average volatility of 6.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BITX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Volatility Shares Trust - 2x Bitcoin Strategy Etf to open at $37.15, and during the day (based on 14 day Average True Range), to move between $32.87 and $39.81, which gives a possible trading interval of +/-$3.47 (+/-9.56%) up or down from last closing price. If Volatility Shares Trust - 2x Bitcoin Strategy Etf takes out the full calculated possible swing range there will be an estimated 19.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.11 (0.63%) than the resistance at $38.08 (4.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Volatility Shares Trust - 2x Bitcoin Strategy Etf ETF A Buy?
The Volatility Shares Trust - 2x Bitcoin ETF holds several negative signals and despite the positive trend, we believe Volatility Shares Trust - 2x Bitcoin will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.582 Sell Candidate Unchanged
Predicted Opening Price for Volatility Shares Trust - 2x Bitcoin Strategy Etf of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $37.15 ( 2.22%) | $36.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BITX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.93 | 12.62 % | |
| R2 | 39.48 | 8.65 % | ||
| R1 | 38.59 | 6.19 % | ||
| Current price: | 36.34 | |||
| Support | S1 | 35.70 | -1.75 % | |
| S2 | 34.81 | -4.21 % | ||
| S3 | 33.37 | -8.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.11 | 18.63 % | |
| R2 | 43.09 | 18.57 % | ||
| R1 | 38.08 | 4.79 % | ||
| Current price | 36.34 | |||
| Support | S1 | 36.11 | -0.633% | |
| S2 | 34.98 | -3.74% | ||
| S3 | 32.58 | -10.33% |
FAQ
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