Coinsbit Token / US Dollar Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Coinsbit Token / US Dollar cryptocurrency price on Saturday moving 160.00% between high and low
(Updated on May 18, 2024)
The Coinsbit Token / US Dollar cryptocurrency price fell by -22.22% on the last day (Saturday, 18th May 2024) from $0.000009 to $0.000007. During the last trading day the cryptocurrency fluctuated 160.00% from a day low at $0.000005 to a day high of $0.000013. The price has fallen in 7 of the last 10 days and is down by -94.17% for this period. Volume has increased on the last day by 269 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 363 shares were bought and sold for approximately $0.0025 .
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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CNBUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Coinsbit Token / US Dollar cryptocurrency 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 $0.00003371 and $0.0001. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, May 12, 2024, and so far it has fallen -90.00%. 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). Coinsbit Token / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Coinsbit Token / US Dollar cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000008 between high and low, or 160.00%. For the last week, the cryptocurrency has had daily average volatility of 185.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNBUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Coinsbit Token / US Dollar to open at $0.00000833, and during the day (based on 14 day Average True Range), to move between -$0.00006596 and $0.00007996, which gives a possible trading interval of +/-$0.00007296 (+/-1 042.35%) up or down from last closing price. If Coinsbit Token / US Dollar takes out the full calculated possible swing range there will be an estimated 2 084.71% move between the lowest and the highest trading price during the day.
Is Coinsbit Token / US Dollar cryptocurrency A Buy?
Coinsbit Token / US Dollar 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 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 Strong Sell candidate.
Current score: -6.660 Strong Sell Candidate Downgraded
Predicted Opening Price for Coinsbit Token / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.00000833 ( 19.05%) | $0.000007 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNBUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.00001633 | 133.33 % | |
| R2 | 0.00001328 | 89.68 % | ||
| R1 | 0.00001139 | 62.70 % | ||
| Current price: | 0.000007 | |||
| Support | S1 | 0.00000528 | -24.61 % | |
| S2 | 0.00000339 | -51.58 % | ||
| S3 | 0.00000033 | -95.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.000007 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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