Valkyrie Bitcoin Strategy Etf ETF Forecast

Valkyrie Bitcoin Strategy Etf ETF price fell more than -7.35% Tuesday closing at $17.27
(Updated on Apr 30, 2024)

BTF Signals & Forecast

There are few to no technical positive signals at the moment. The Valkyrie Bitcoin Strategy Etf 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 $18.65 and $19.94. 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 -25.14%. 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). Valkyrie Bitcoin Strategy Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Valkyrie Bitcoin Strategy Etf ETF

Valkyrie Bitcoin Strategy Etf finds support from accumulated volume at $16.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.669 between high and low, or 3.88%. For the last week, the ETF has had daily average volatility of 3.01%.

Valkyrie Bitcoin Strategy Etf is oversold on RSI14 (24). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (BTF) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Valkyrie Bitcoin Strategy Etf to open at $17.48, and during the day (based on 14 day Average True Range), to move between $16.43 and $18.11, which gives a possible trading interval of +/-$0.84 (+/-4.88%) up or down from last closing price. If Valkyrie Bitcoin Strategy Etf takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.42 (4.92%) than the resistance at $18.98 (9.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Valkyrie Bitcoin Strategy Etf ETF A Buy?

The Valkyrie Bitcoin Strategy Etf ETF holds several negative signals and despite the positive trend, we believe Valkyrie Bitcoin Strategy Etf will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.531 Sell Candidate Unchanged

Predicted Opening Price for Valkyrie Bitcoin Strategy Etf of Wednesday, May 1, 2024

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