Ishares Bitcoin Trust ETF Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of IBIT
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On Friday, Ishares Bitcoin Trust ETF price gained an impressive 5.86%
(Updated on Oct 11, 2024)
Hold candidate since Oct 11, 2024
The Ishares Bitcoin Trust ETF price gained 5.86% on the last trading day (Friday, 11th Oct 2024), rising from $33.95 to $35.94. During the last trading day the ETF fluctuated 3.45% from a day low at $34.94 to a day high of $36.15. The price has fallen in 6 of the last 10 days and is down by -3.88% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately $1.18 billion.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.42% during the next 3 months and, with a 90% probability hold a price between $28.47 and $36.43 at the end of this 3-month period.
IBIT Signals & Forecast
The Ishares 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 $35.18 and $34.57. A breakdown below any of these levels will issue sell signals. 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 Friday, September 27, 2024, and so far it has fallen -3.88%. 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).
A buy signal from a double bottom formation was found on Friday, September 06, 2024 and based on theory for this formation the price should go up by 10.37% to $39.67 within 23 trading days (Wednesday, October 09, 2024) since signal was issued.
Support, Risk & Stop-loss for Ishares Bitcoin Trust ETF
Ishares Bitcoin Trust finds support from accumulated volume at $35.13 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 $1.21 between high and low, or 3.45%. For the last week, the ETF has had daily average volatility of 3.06%.
Our recommended stop-loss: $34.22 (-4.78%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (IBIT) For The Upcoming Trading Day Of Monday 14th
For the upcoming trading day on Monday, 14th we expect Ishares Bitcoin Trust to open at $35.68, and during the day (based on 14 day Average True Range), to move between $34.63 and $37.25, which gives a possible trading interval of +/-$1.31 (+/-3.65%) up or down from last closing price. If Ishares Bitcoin Trust takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.28 (0.95%) than the support at $35.13 (2.25%), 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 Ishares Bitcoin Trust ETF A Buy?
Ishares 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score:
0.461
Hold/Accumulate
Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 14, 2024 - $35.68 ( 0.737%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for IBIT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.88 | 2.62% |
| R2 | 36.42 | 1.33% |
| R1 | 36.14 | 0.543% |
| Price | 35.94 | |
| S1 | 35.21 | -2.02% |
| S2 | 34.93 | -2.81% |
| S3 | 34.47 | -4.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.40 | 6.84% |
| R2 | 36.84 | 2.50% |
| R1 | 36.28 | 0.95% |
| Price | 35.94 | |
| S1 | 35.13 | -2.25% |
| S2 | 32.98 | -8.24% |
| S3 | 30.48 | -15.19% |
FAQ
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