Fidelity Wise Origin Bitcoin Trust ETF Forecast
Fidelity Wise Origin Bitcoin Trust ETF price up 3.10% on Friday
(Updated on May 17, 2024)
The Fidelity Wise Origin Bitcoin Trust ETF price gained 3.10% on the last trading day (Friday, 17th May 2024), rising from $57.02 to $58.79. During the last trading day the ETF fluctuated 2.60% from a day low at $57.61 to a day high of $59.11. The price has risen in 6 of the last 10 days and is up by 8.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 422 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $313.28 million.
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 2.74% during the next 3 months and, with a 90% probability hold a price between $51.44 and $67.52 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FBTC Signals & Forecast
Mostly positive signals in the chart today. The Fidelity Wise Origin Bitcoin Trust ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $55.78 and $56.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 18.22%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Fidelity Wise Origin Bitcoin Trust ETF
Fidelity Wise Origin Bitcoin Trust finds support from accumulated volume at $57.59 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.50 between high and low, or 2.60%. For the last week, the ETF has had daily average volatility of 2.59%.
Our recommended stop-loss: $56.53 (-3.84%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (FBTC) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fidelity Wise Origin Bitcoin Trust to open at $58.50, and during the day (based on 14 day Average True Range), to move between $56.42 and $61.16, which gives a possible trading interval of +/-$2.37 (+/-4.03%) up or down from last closing price. If Fidelity Wise Origin Bitcoin Trust takes out the full calculated possible swing range there will be an estimated 8.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.59 (2.04%) than the resistance at $60.73 (3.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fidelity Wise Origin Bitcoin Trust ETF 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 Fidelity Wise Origin Bitcoin Trust ETF to perform well in the short-term.
Current score: 3.348 Buy Candidate Unchanged
Predicted Opening Price for Fidelity Wise Origin Bitcoin Trust of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $58.50 ( 0.488%) | $58.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBTC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.00 | 2.06 % | |
| R2 | 59.43 | 1.09 % | ||
| R1 | 59.08 | 0.487 % | ||
| Current price: | 58.79 | |||
| Support | S1 | 57.93 | -1.46 % | |
| S2 | 57.58 | -2.06 % | ||
| S3 | 57.00 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.09 | 7.31 % | |
| R2 | 62.50 | 6.31 % | ||
| R1 | 60.73 | 3.30 % | ||
| Current price | 58.79 | |||
| Support | S1 | 57.59 | -2.04% | |
| S2 | 54.18 | -7.84% | ||
| S3 | 52.84 | -10.12% |
FAQ
Click here for our free guide on how to buy Fidelity Wise Origin Bitcoin Trust ETF.
