21shares Short Bitcoin Etp ETF Forecast
Green day on Friday for 21shares Short Bitcoin Etp ETF after gaining 1.23%
(Updated on May 24, 2024)
The 21shares Short Bitcoin Etp ETF price gained 1.23% on the last trading day (Friday, 24th May 2024), rising from 0.277 Fr to 0.280 Fr. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.429% from a day low at 0.280 Fr to a day high of 0.281 Fr. The price has been going up and down for this period, and there has been a -8.63% loss for the last 2 weeks. Volume fell on the last day by -68 thousand shares and in total, 2 thousand shares were bought and sold for approximately 595.85 Fr . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 0.268 Fr is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -7.20% during the next 3 months and, with a 90% probability hold a price between 0.249 Fr and 0.341 Fr at the end of this 3-month period.
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SBTC.SW Signals & Forecast
There are mixed signals in the ETF today. The 21shares Short Bitcoin Etp ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 0.295 Fr. On a fall, the ETF will find some support from the short-term average at 0.280 Fr. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 4.04%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for 21shares Short Bitcoin Etp ETF
21shares Short Bitcoin Etp finds support from accumulated volume at 0.280 Fr 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved 0.0012 Fr between high and low, or 0.429%. For the last week the ETF has had daily average volatility of 1.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBTC.SW) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect 21shares Short Bitcoin Etp to open at 0.281 Fr, and during the day (based on 14 day Average True Range), to move between 0.270 Fr and 0.290 Fr, which gives a possible trading interval of +/-0.0101 Fr (+/-3.59%) up or down from last closing price. If 21shares Short Bitcoin Etp takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.280 Fr (0.18%) than the resistance at 0.297 Fr (5.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 21shares Short Bitcoin Etp ETF A Buy?
21shares Short Bitcoin Etp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -2.974 Sell Candidate Unchanged
Predicted Opening Price for 21shares Short Bitcoin Etp of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| 0.281 Fr ( 0.0476%) | 0.280 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBTC.SW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.282 | 0.476 % | |
| R2 | 0.281 | 0.312 % | ||
| R1 | 0.281 | 0.211 % | ||
| Current price: | 0.280 | |||
| Support | S1 | 0.280 | -0.116 % | |
| S2 | 0.280 | -0.217 % | ||
| S3 | 0.279 | -0.380 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.311 | 10.81 % | |
| R2 | 0.305 | 8.63 % | ||
| R1 | 0.297 | 5.85 % | ||
| Current price | 0.280 | |||
| Support | S1 | 0.280 | -0.178% | |
| S2 | 0.279 | -0.571% | ||
| S3 | 0.270 | -3.89% |
FAQ
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