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Fidelity Wise Origin Bitcoin Trust ETF Forecast

$60.15
+1.36 (+2.31%)
At Close: May 30, 2024

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:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

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

RSI low/high Values: [ 20 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Fidelity Wise Origin Bitcoin Trust ETF price up 2.31% on Thursday
(Updated on May 30, 2024)

Buy or Hold candidate since May 15, 2024 Gain 3.98% PDF

The Fidelity Wise Origin Bitcoin Trust ETF price gained 2.31% on the last trading day (Thursday, 30th May 2024), rising from $58.79 to $60.15. During the last trading day the ETF fluctuated 2.31% from a day low at $59.54 to a day high of $60.91. The price has been going up and down for this period, and there has been a 3.98% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $409.86 million.

The ETF lies the upper part of a very wide and falling 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 $61.04 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -5.12% during the next 3 months and, with a 90% probability hold a price between $46.16 and $57.91 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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FBTC Signals & Forecast

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. 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 $59.96 and $56.56. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, May 20, 2024, and so far it has fallen -2.07%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Fidelity Wise Origin Bitcoin Trust ETF

Fidelity Wise Origin Bitcoin Trust finds support from accumulated volume at $58.68 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 $1.37 between high and low, or 2.31%. For the last week, the ETF has had daily average volatility of 2.69%.

Our recommended stop-loss: $57.89 (-3.76%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (FBTC) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Fidelity Wise Origin Bitcoin Trust to open at $60.20, and during the day (based on 14 day Average True Range), to move between $57.94 and $62.36, which gives a possible trading interval of +/-$2.21 (+/-3.67%) 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 7.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $60.73 (0.96%) than the support at $58.68 (2.45%), 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 Fidelity Wise Origin Bitcoin Trust ETF A Buy?

Fidelity Wise Origin Bitcoin Trust holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.129 Hold/Accumulate Unchanged

Predicted Opening Price for Fidelity Wise Origin Bitcoin Trust of Friday, May 31, 2024

Fair opening price May 31, 2024 Current price
$60.20 ( 0.0805%) $60.15

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 61.57 2.37 %
R2 61.05 1.49 %
R1 60.72 0.95 %
Current price: 60.15
Support S1 59.67 -0.793 %
S2 59.35 -1.33 %
S3 58.82 -2.21 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 63.09 4.89 %
R2 62.50 3.91 %
R1 60.73 0.96 %
Current price 60.15
Support S1 58.68 -2.45%
S2 57.59 -4.26%
S3 54.18 -9.93%

FAQ

What is the symbol for Fidelity Wise Origin Bitcoin Trust ETF and on which exchange is it traded?
The symbol for Fidelity Wise Origin Bitcoin Trust is FBTC and it is traded on the OTCBB (OTC Bulletin Board).

Should I buy or sell Fidelity Wise Origin Bitcoin Trust ETF?
Fidelity Wise Origin Bitcoin Trust holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Fidelity Wise Origin Bitcoin Trust ETF?
Fidelity Wise Origin Bitcoin Trust ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Fidelity Wise Origin Bitcoin Trust ETF.

What's the current price of Fidelity Wise Origin Bitcoin Trust ETF?
As of the end of day on the May 30, 2024, the price of an Fidelity Wise Origin Bitcoin Trust (FBTC) share was $60.15.

What is the 52-week high and low for Fidelity Wise Origin Bitcoin Trust ETF?
The 52-week high for Fidelity Wise Origin Bitcoin Trust ETF is $64.42 and the 52-week low is $33.77.

What is the market capitalization of Fidelity Wise Origin Bitcoin Trust ETF?
As of the May 30, 2024, the market capitalization of Fidelity Wise Origin Bitcoin Trust is 9.238B.
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