BitSong USD Cryptocurrency Forecast
Red day on Sunday for BitSong USD cryptocurrency after losing 3.14%
(Updated on May 19, 2024)
The BitSong USD cryptocurrency price fell by -3.14% on the last day (Sunday, 19th May 2024) from $0.0091 to $0.0088. During the last trading day the cryptocurrency fluctuated 2.68% from a day low at $0.0088 to a day high of $0.0090. The price has fallen in 7 of the last 10 days and is down by -7.59% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -577 shares and in total, 218 shares were bought and sold for approximately $1.92 .
The cryptocurrency 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 cryptocurrency is expected to fall -40.44% during the next 3 months and, with a 90% probability hold a price between $0.0047 and $0.0068 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BTSGUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 6.78%. 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 BitSong USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0095. On a fall, the cryptocurrency will find some support from the short-term average at $0.0087. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BitSong USD cryptocurrency
BitSong USD finds support from accumulated volume at $0.0086 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0002 between high and low, or 2.68%. For the last week the cryptocurrency has had daily average volatility of 2.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTSGUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BitSong USD to open at $0.0089, and during the day (based on 14 day Average True Range), to move between $0.0084 and $0.0092, which gives a possible trading interval of +/-$0.0004 (+/-4.44%) up or down from last closing price. If BitSong USD takes out the full calculated possible swing range there will be an estimated 8.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0088 (0.34%) than the support at $0.0086 (2.44%), 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 BitSong USD cryptocurrency A Buy?
BitSong USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -3.588 Sell Candidate Unchanged
Predicted Opening Price for BitSong USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0089 ( 0.89%) | $0.0088 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTSGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0091 | 3.58 % | |
| R2 | 0.0090 | 2.55 % | ||
| R1 | 0.0090 | 1.92 % | ||
| Current price: | 0.0088 | |||
| Support | S1 | 0.0088 | -0.131 % | |
| S2 | 0.0087 | -0.763 % | ||
| S3 | 0.0086 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0105 | 19.19 % | |
| R2 | 0.0096 | 9.20 % | ||
| R1 | 0.0088 | 0.341 % | ||
| Current price | 0.0088 | |||
| Support | S1 | 0.0086 | -2.44% | |
| S2 | 0.0084 | -3.99% | ||
| S3 | 0.0082 | -6.35% |
FAQ
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