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Bit Digital Inc Stock Forecast NASDAQ:BTBT

$5.02 (-8.73%)

Volume: 2M

Closed: Jan 19, 2022

Hollow Logo Score: -6.284

Bit Digital Inc Stock Forecast

$5.02 (-8.73%)

Volume: 2M

Closed: Jan 19, 2022

Score Hollow Logo -6.284
Which way will BTBT go? Request
Key Stats
Beta 3.68
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 80 ] RSI14 is 28 and the stock is currently not being overbought or oversold

High volatility in Bit Digital Inc stock price on Wednesday which ended trading at $5.02
(Updated on Jan 19, 2022)


Sell candidate since 2021-11-17 Loss -52.37% PDF

The Bit Digital Inc stock price fell by -8.73% on the last day (Wednesday, 19th Jan 2022) from $5.50 to $5.02. and has now fallen 3 days in a row. During the day the stock fluctuated 10.98% from a day low at $5.01 to a day high of $5.56. The price has fallen in 6 of the last 10 days and is down by -18.11% for this period. Volume has increased on the last day by 146 thousand 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, 2 million shares were bought and sold for approximately $7.57 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -49.12% during the next 3 months and, with a 90% probability hold a price between $1.45 and $3.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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 Bit Digital Inc stock 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 $5.60 and $6.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, January 12, 2022, and so far it has fallen -15.91%. 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 stock should be followed more closely.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.55 between high and low, or 10.98%. For the last week, the stock has had a daily average volatility of 7.92%.

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

Is Bit Digital Inc stock A Buy?

Bit Digital Inc 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 stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.284

Strong Sell Candidate Downgraded

Predicted Opening Price for Bit Digital Inc of Thursday, January 20, 2022

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

Fair opening price January 20, 2022 Current price
$5.20 $5.02 (Undervalued)

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Analyst Ratings

On Sep 23, 2021 "HC Wainwright" gave "$14.00" rating for BTBT. The price target was set to $9.59+11.0%.

Volatility and Risk
Daily Average Volatility: 7.92 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.92 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $5.65
Price: $5.02
No Support Found

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 5.75 14.48 %
5.54 10.29 %
5.41 7.70 %
Current price: 5.02
Support 4.99 -0.67 %
4.86 -3.25 %
4.65 -7.44 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 6.26 24.70 %
6.08 21.12 %
5.65 12.55 %
Current price 5.02
Support 0 .
0 .
0 .

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