BitShares Cryptocurrency Forecast

BitShares cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Saturday trading session.
(Updated on May 18, 2024)

BTSUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Saturday, April 13, 2024, and so far it has risen 5.44%. Further rise is indicated until a new top pivot has been found. BitShares has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BitShares 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 $0.0032. On a fall, the cryptocurrency will find some support from the short-term average at $0.0031. 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).

Support, Risk & Stop-loss for BitShares cryptocurrency

BitShares finds support from accumulated volume at $0.0030 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.000096 between high and low, or 3.19%. For the last week, the cryptocurrency has had daily average volatility of 4.38%.

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

Trading Expectations (BTSUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect BitShares to open at $0.0031, and during the day (based on 14 day Average True Range), to move between $0.0029 and $0.0033, which gives a possible trading interval of +/-$0.0002 (+/-4.92%) up or down from last closing price. If BitShares takes out the full calculated possible swing range there will be an estimated 9.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0030 (2.45%) than the resistance at $0.0037 (18.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BitShares cryptocurrency A Buy?

BitShares 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.780 Sell Candidate Downgraded

Predicted Opening Price for BitShares of Sunday, May 19, 2024

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