The Bitcoin Fund Stock Forecast
Red day on Wednesday for The Bitcoin Fund stock after losing 2.04%
(Updated on Jun 26, 2024)
The The Bitcoin Fund stock price fell by -2.04% on the last day (Wednesday, 26th Jun 2024) from $80.75 to $79.10. During the last trading day the stock fluctuated 2.10% from a day low at $78.53 to a day high of $80.18. The price has fallen in 6 of the last 10 days and is down by -10.61% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 5 thousand shares were bought and sold for approximately $366.55 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.49% during the next 3 months and, with a 90% probability hold a price between $70.38 and $83.70 at the end of this 3-month period.
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QBTC.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.66%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Bitcoin Fund stock 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 $81.47 and $86.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for The Bitcoin Fund stock
The Bitcoin Fund finds support from accumulated volume at $76.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.65 between high and low, or 2.10%. For the last week the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QBTC.TO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect The Bitcoin Fund to open at $79.27, and during the day (based on 14 day Average True Range), to move between $76.15 and $82.05, which gives a possible trading interval of +/-$2.95 (+/-3.73%) up or down from last closing price. If The Bitcoin Fund takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $76.31 (3.53%) than the resistance at $88.06 (11.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Bitcoin Fund stock A Buy?
The Bitcoin Fund holds several negative signals and is within a 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 stock.
Current score: -1.316 Sell Candidate Unchanged
Predicted Opening Price for The Bitcoin Fund of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $79.27 ( 0.215%) | $79.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QBTC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 80.92 | 2.30% |
| R2 | 80.29 | 1.50% |
| R1 | 79.90 | 1.01% |
| Price | 79.10 | |
| S1 | 78.64 | -0.582% |
| S2 | 78.25 | -1.07% |
| S3 | 77.62 | -1.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.55 | 17.00% |
| R2 | 90.79 | 14.78% |
| R1 | 88.06 | 11.33% |
| Price | 79.10 | |
| S1 | 76.31 | -3.53% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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