BTC 2x Flexible Leverage Index USD Cryptocurrency Forecast
Stronger technical forecast for BTC 2x Flexible Leverage Index USD cryptocurrency price after Saturday trading.
(Updated on May 18, 2024)
The BTC 2x Flexible Leverage Index USD cryptocurrency price gained 0.90% on the last trading day (Saturday, 18th May 2024), rising from $29.59 to $29.86. During the last trading day the cryptocurrency fluctuated 3.81% from a day low at $28.76 to a day high of $29.86. The price has risen in 5 of the last 10 days and is up by 12.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $374.63 thousand.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BTC 2x Flexible Leverage Index USD cryptocurrency with a 90% probability to be traded between $19.87 and $37.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BTC2X-FLIUSD Signals & Forecast
Mostly positive signals in the chart today. The BTC 2x Flexible Leverage Index USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $27.98 and $27.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 50.28%. 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). BTC 2x Flexible Leverage Index USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for BTC 2x Flexible Leverage Index USD cryptocurrency
BTC 2x Flexible Leverage Index USD finds support from accumulated volume at $29.49 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $1.10 between high and low, or 3.81%. For the last week, the cryptocurrency has had daily average volatility of 3.92%.
Our recommended stop-loss: $28.80 (-3.54%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (BTC2X-FLIUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect BTC 2x Flexible Leverage Index USD to open at $29.49, and during the day (based on 14 day Average True Range), to move between $28.75 and $30.96, which gives a possible trading interval of +/-$1.10 (+/-3.70%) up or down from last closing price. If BTC 2x Flexible Leverage Index USD takes out the full calculated possible swing range there will be an estimated 7.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.49 (1.22%) than the resistance at $33.09 (10.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BTC 2x Flexible Leverage Index USD cryptocurrency A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for BTC 2x Flexible Leverage Index USD cryptocurrency to perform well in the short-term period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.665 Buy Candidate Upgraded
Predicted Opening Price for BTC 2x Flexible Leverage Index USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $29.49 ( 1.22%) | $29.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTC2X-FLIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.59 | 2.45 % | |
| R2 | 30.17 | 1.05 % | ||
| R1 | 29.91 | 0.179 % | ||
| Current price: | 29.86 | |||
| Support | S1 | 29.07 | -2.63 % | |
| S2 | 28.81 | -3.49 % | ||
| S3 | 28.39 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.84 | 16.68 % | |
| R2 | 34.59 | 15.87 % | ||
| R1 | 33.09 | 10.83 % | ||
| Current price | 29.86 | |||
| Support | S1 | 29.49 | -1.22% | |
| S2 | 28.09 | -5.91% | ||
| S3 | 26.63 | -10.81% |
FAQ
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