Btc Digital Ltd. Stock Forecast
A very strong day for Btc Digital Ltd. stock price on Tuesday
(Updated on Jun 25, 2024)
The Btc Digital Ltd. stock price gained 25.96% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.0235 to $0.0296. During the last trading day the stock fluctuated 0.338% from a day low at $0.0296 to a day high of $0.0297. The price has fallen in 5 of the last 10 days and is down by -23.71% for this period. Volume fell on the last day by -26 thousand shares and in total, 100 shares were bought and sold for approximately $2.96 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -19.50% during the next 3 months and, with a 90% probability hold a price between $0.0128 and $0.0360 at the end of this 3-month period.
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BTCTW 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 Btc Digital Ltd. 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 $0.0300 and $0.0324. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -15.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Btc Digital Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0275 and $0.0262. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Btc Digital Ltd. finds support just below today's level at $0.0275. If this is broken, then the next support from accumulated volume will be at $0.0262 and $0.0235.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0001 between high and low, or 0.338%. For the last week the stock has had daily average volatility of 9.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTCTW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Btc Digital Ltd. to open at $0.0296, and during the day (based on 14 day Average True Range), to move between $0.0214 and $0.0378, which gives a possible trading interval of +/-$0.0082 (+/-27.69%) up or down from last closing price. If Btc Digital Ltd. takes out the full calculated possible swing range there will be an estimated 55.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0300 (1.35%) than the support at $0.0275 (7.09%), 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 Btc Digital Ltd. stock A Buy?
Btc Digital Ltd. 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 Hold/Accumulate to a Sell candidate.
Current score: -3.327 Sell Candidate Downgraded
Predicted Opening Price for Btc Digital Ltd. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.0296 ( 0.113%) | $0.0296 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTCTW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0297 | 0.450% |
R2 | 0.0297 | 0.321% |
R1 | 0.0297 | 0.242% |
Price | 0.0296 | |
S1 | 0.0296 | -0.0164% |
S2 | 0.0296 | -0.0962% |
S3 | 0.0295 | -0.225% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0330 | 11.49% |
R2 | 0.0325 | 9.80% |
R1 | 0.0300 | 1.35% |
Price | 0.0296 | |
S1 | 0.0275 | -7.09% |
S2 | 0.0262 | -11.49% |
S3 | 0.0235 | -20.61% |
FAQ
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