21shares Short Bitcoin Etp ETF Forecast
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:
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
Green day on Friday for 21shares Short Bitcoin Etp ETF after gaining 1.24%
(Updated on Jun 14, 2024)
The 21shares Short Bitcoin Etp ETF price gained 1.24% on the last trading day (Friday, 14th Jun 2024), rising from 0.275 Fr to 0.278 Fr. During the last trading day the ETF fluctuated 2.38% from a day low at 0.274 Fr to a day high of 0.280 Fr. The price has risen in 5 of the last 10 days and is up by 0.69% 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, 2 thousand more shares were traded than the day before. In total, 49 thousand shares were bought and sold for approximately 13.64 Fr thousand.
The ETF 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 ETF is expected to fall -8.43% during the next 3 months and, with a 90% probability hold a price between 0.230 Fr and 0.284 Fr 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.
SBTC.SW Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 21shares Short Bitcoin Etp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 0.286 Fr. On a fall, the ETF will find some support from the short-term average at 0.271 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. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -0.86%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should fall by -4.33% to 0.266 Fr within 10 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for 21shares Short Bitcoin Etp ETF
21shares Short Bitcoin Etp finds support from accumulated volume at 0.268 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 0.0065 Fr (2.38%) between high and low. For the last week, the ETF has had daily average volatility of 2.55%.
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 17th
For the upcoming trading day on Monday, 17th we expect 21shares Short Bitcoin Etp to open at 0.277 Fr, and during the day (based on 14 day Average True Range), to move between 0.271 Fr and 0.285 Fr, which gives a possible trading interval of +/-0.0075 Fr (+/-2.68%) 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 5.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.268 Fr (3.63%) than the resistance at 0.297 Fr (6.76%), 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: -2.264 Sell Candidate Unchanged
Predicted Opening Price for 21shares Short Bitcoin Etp of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| 0.277 Fr ( 0.300%) | 0.278 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 | |
|---|---|---|
| R3 | 0.284 | 2.04% |
| R2 | 0.281 | 1.15% |
| R1 | 0.280 | 0.593% |
| Price | 0.278 | |
| S1 | 0.275 | -1.19% |
| S2 | 0.273 | -1.74% |
| S3 | 0.271 | -2.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.311 | 11.76% |
| R2 | 0.305 | 9.57% |
| R1 | 0.297 | 6.76% |
| Price | 0.278 | |
| S1 | 0.268 | -3.63% |
| S2 | 0.268 | -3.74% |
| S3 | 0.264 | -5.04% |
FAQ
Click here for our free guide on how to buy 21shares Short Bitcoin Etp ETF.
