Valkyrie Bitcoin Futures Leveraged ETF Forecast
Green day on Monday for Valkyrie Bitcoin Futures Leveraged
(Updated on Jun 17, 2024)
The Valkyrie Bitcoin Futures Leveraged ETF price gained 3.66% on the last trading day (Monday, 17th Jun 2024), rising from $33.87 to $35.11. During the last trading day the ETF fluctuated 6.91% from a day low at $33.41 to a day high of $35.72. The price has been going up and down for this period, and there has been a -8.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 82 thousand shares were bought and sold for approximately $2.87 million.
The ETF 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 ETF is expected to fall -8.81% during the next 3 months and, with a 90% probability hold a price between $22.76 and $36.61 at the end of this 3-month period.
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BTFX Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Valkyrie Bitcoin Futures Leveraged ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $36.10 and $35.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -13.61%. 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).
Support, Risk & Stop-loss for Valkyrie Bitcoin Futures Leveraged ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $31.45 and $28.93. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Valkyrie Bitcoin Futures Leveraged finds support just below today's level at $31.45. If this is broken, then the next support from accumulated volume will be at $28.93 and $26.93.
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 $2.31 between high and low, or 6.91%. For the last week, the ETF has had daily average volatility of 6.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTFX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Valkyrie Bitcoin Futures Leveraged Strategy Etf to open at $34.75, and during the day (based on 14 day Average True Range), to move between $32.61 and $37.61, which gives a possible trading interval of +/-$2.50 (+/-7.12%) up or down from last closing price. If Valkyrie Bitcoin Futures Leveraged Strategy Etf takes out the full calculated possible swing range there will be an estimated 14.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.49 (6.78%) than the support at $31.45 (10.42%), 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 Valkyrie Bitcoin Futures Leveraged Strategy Etf ETF A Buy?
Valkyrie Bitcoin Futures Leveraged 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 ETF.
Current score: -2.417 Sell Candidate Unchanged
Predicted Opening Price for Valkyrie Bitcoin Futures Leveraged Strategy Etf of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $34.75 ( 1.03%) | $35.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTFX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.06 | 5.54% |
| R2 | 36.17 | 3.03% |
| R1 | 35.63 | 1.48% |
| Price | 35.11 | |
| S1 | 33.86 | -3.55% |
| S2 | 33.32 | -5.10% |
| S3 | 32.44 | -7.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.29 | 11.91% |
| R2 | 38.33 | 9.17% |
| R1 | 37.49 | 6.78% |
| Price | 35.11 | |
| S1 | 31.45 | -10.42% |
| S2 | 28.93 | -17.60% |
| S3 | 26.93 | -23.30% |
FAQ
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