Bitwise Funds Trust ETF Forecast
Green day on Tuesday for Bitwise Funds Trust
(Updated on Jun 25, 2024)
The Bitwise Funds Trust ETF price gained 3.74% on the last trading day (Tuesday, 25th Jun 2024), rising from $45.74 to $47.45. During the last trading day the ETF fluctuated 1.09% from a day low at $46.94 to a day high of $47.45. The price has fallen in 6 of the last 10 days and is down by -9.53% for this period. Volume fell on the last day by -396 shares and in total, 1 thousand shares were bought and sold for approximately $67.28 thousand. 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 ETF lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.53% during the next 3 months and, with a 90% probability hold a price between $44.30 and $55.83 at the end of this 3-month period.
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BTOP Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.74%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bitwise Funds Trust 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 $48.18 and $49.49. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Bitwise Funds Trust ETF
Bitwise Funds Trust finds support from accumulated volume at $45.75 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.510 between high and low, or 1.09%. For the last week the ETF has had daily average volatility of 0.726%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTOP) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bitwise Funds Trust to open at $47.28, and during the day (based on 14 day Average True Range), to move between $45.97 and $48.93, which gives a possible trading interval of +/-$1.48 (+/-3.12%) up or down from last closing price. If Bitwise Funds Trust takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.04 (1.24%) than the support at $45.75 (3.59%), 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 Bitwise Funds Trust ETF A Buy?
The Bitwise Funds Trust ETF holds several negative signals and despite the positive trend, we believe Bitwise Funds Trust will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.060 Sell Candidate Unchanged
Predicted Opening Price for Bitwise Funds Trust of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $47.28 ( 0.358%) | $47.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTOP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.79 | 0.717% |
| R2 | 47.60 | 0.306% |
| R1 | 47.47 | 0.0523% |
| Price | 47.45 | |
| S1 | 47.09 | -0.769% |
| S2 | 46.96 | -1.02% |
| S3 | 46.77 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 52.74 | 11.14% |
| R2 | 50.97 | 7.41% |
| R1 | 48.04 | 1.24% |
| Price | 47.45 | |
| S1 | 45.75 | -3.59% |
| S2 | 44.65 | -5.90% |
| S3 | 43.05 | -9.27% |
FAQ
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