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 Tuesday for 21shares Short Bitcoin Etp ETF after gaining 4.20%
(Updated on Jun 25, 2024)
The 21shares Short Bitcoin Etp ETF price gained 4.20% on the last trading day (Tuesday, 25th Jun 2024), rising from 0.290 Fr to 0.303 Fr. During the last trading day the ETF fluctuated 0.628% from a day low at 0.303 Fr to a day high of 0.305 Fr. The price has risen in 6 of the last 10 days and is up by 7.92% 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, 241 thousand more shares were traded than the day before. In total, 241 thousand shares were bought and sold for approximately 72.84 Fr thousand.
The ETF lies the upper part of a 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 0.311 Fr 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 -5.63% during the next 3 months and, with a 90% probability hold a price between 0.245 Fr and 0.293 Fr 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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SBTC.SW Signals & Forecast
The 21shares Short Bitcoin Etp 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 0.289 Fr and 0.283 Fr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 14.62%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for 21shares Short Bitcoin Etp ETF
21shares Short Bitcoin Etp finds support from accumulated volume at 0.297 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved 0.0019 Fr between high and low, or 0.628%. For the last week, the ETF has had daily average volatility of 0.449%.
Our recommended stop-loss: 0.292 Fr (-3.54%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (SBTC.SW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect 21shares Short Bitcoin Etp to open at 0.303 Fr, and during the day (based on 14 day Average True Range), to move between 0.295 Fr and 0.310 Fr, which gives a possible trading interval of +/-0.0072 Fr (+/-2.36%) 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 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.305 Fr (0.66%) than the support at 0.297 Fr (1.92%), 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 21shares Short Bitcoin Etp ETF A Buy?
21shares Short Bitcoin Etp 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for 21shares Short Bitcoin Etp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 0.303 Fr ( 0.209%) | 0.303 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 | 0.305 | 0.84% |
| R2 | 0.304 | 0.597% |
| R1 | 0.304 | 0.449% |
| Price | 0.303 | |
| S1 | 0.303 | -0.0306% |
| S2 | 0.302 | -0.179% |
| S3 | 0.301 | -0.419% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.310 | 2.35% |
| R2 | 0.307 | 1.29% |
| R1 | 0.305 | 0.661% |
| Price | 0.303 | |
| S1 | 0.297 | -1.92% |
| S2 | 0.268 | -11.57% |
| S3 | 0.264 | -12.76% |
FAQ
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