Bittensor USD Cryptocurrency 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
Evaluation of Bittensor USD cryptocurrency downgraded after the last trading session.
(Updated on May 18, 2024)
The Bittensor USD cryptocurrency price fell by -1.27% on the last day (Saturday, 18th May 2024) from $385.60 to $380.70. During the last trading day the cryptocurrency fluctuated 5.84% from a day low at $377.00 to a day high of $399.00. The price has fallen in 6 of the last 10 days and is down by -9.16% for this period. Volume has increased on the last day by 869 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 million shares were bought and sold for approximately $7.37 billion.
The cryptocurrency 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 cryptocurrency is expected to fall -37.56% during the next 3 months and, with a 90% probability hold a price between $210.90 and $320.32 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TAOUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Bittensor USD cryptocurrency 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 cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $432.40. On a fall, the cryptocurrency will find some support from the short-term average at $365.56. 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 rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 9.33%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Bittensor USD cryptocurrency
Bittensor USD finds support from accumulated volume at $374.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $22.00 between high and low, or 5.84%. For the last week, the cryptocurrency has had daily average volatility of 6.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAOUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Bittensor USD to open at $385.57, and during the day (based on 14 day Average True Range), to move between $336.75 and $424.65, which gives a possible trading interval of +/-$43.95 (+/-11.54%) up or down from last closing price. If Bittensor USD takes out the full calculated possible swing range there will be an estimated 23.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $374.70 (1.58%) than the resistance at $401.30 (5.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bittensor USD cryptocurrency A Buy?
Bittensor USD 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 cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.313 Sell Candidate Downgraded
Predicted Opening Price for Bittensor USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $385.57 ( 1.28%) | $380.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 407.57 | 7.06 % | |
| R2 | 399.16 | 4.85 % | ||
| R1 | 393.97 | 3.49 % | ||
| Current price: | 380.70 | |||
| Support | S1 | 377.16 | -0.93 % | |
| S2 | 371.97 | -2.29 % | ||
| S3 | 363.57 | -4.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 423.30 | 11.19 % | |
| R2 | 419.10 | 10.09 % | ||
| R1 | 401.30 | 5.41 % | ||
| Current price | 380.70 | |||
| Support | S1 | 374.70 | -1.58% | |
| S2 | 373.30 | -1.94% | ||
| S3 | 357.30 | -6.15% |
FAQ
Click here for our free guide on how to buy Bittensor USD Cryptocurrency.
