BitSong USD Cryptocurrency Forecast
Green day on Tuesday for BitSong USD cryptocurrency after gaining 4.74%
(Updated on Jul 02, 2024)
The BitSong USD cryptocurrency price gained 4.74% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.0279 to $0.0292. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 4.30% from a day low at $0.0280 to a day high of $0.0292. The price has risen in 8 of the last 10 days and is up by 61.82% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 6 thousand shares were bought and sold for approximately $176.89 . 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 cryptocurrency lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.0327 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 34.74% during the next 3 months and, with a 90% probability hold a price between $0.0130 and $0.0441 at the end of this 3-month period.
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BTSGUSD Signals & Forecast
The BitSong USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0275 and $0.0146. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen -9.68%. 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 BitSong USD cryptocurrency
BitSong USD finds support from accumulated volume at $0.0279 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0012 between high and low, or 4.30%. For the last week the cryptocurrency has had daily average volatility of 10.21%.
Our recommended stop-loss: $0.0278 (-4.66%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (BTSGUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect BitSong USD to open at $0.0288, and during the day (based on 14 day Average True Range), to move between $0.0261 and $0.0323, which gives a possible trading interval of +/-$0.0031 (+/-10.72%) up or down from last closing price. If BitSong USD takes out the full calculated possible swing range there will be an estimated 21.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0279 (4.52%) than the resistance at $0.0323 (10.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BitSong USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BitSong USD cryptocurrency to perform well in the short-term.
Current score: 2.674 Buy Candidate Unchanged
Predicted Opening Price for BitSong USD of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.0288 ( 1.34%) | $0.0292 |
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 | |
---|---|---|
R3 | 0.0300 | 2.78% |
R2 | 0.0296 | 1.20% |
R1 | 0.0293 | 0.230% |
Price | 0.0292 | |
S1 | 0.0284 | -2.92% |
S2 | 0.0281 | -3.89% |
S3 | 0.0276 | -5.47% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.0323 | 10.72% |
Price | 0.0292 | |
S1 | 0.0279 | -4.52% |
S2 | 0.0254 | -13.19% |
S3 | 0.0251 | -13.99% |
FAQ
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