Bitcoin Plus 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
Big movements in Bitcoin Plus cryptocurrency price on Friday moving 18.66% between high and low
(Updated on May 31, 2024)
The Bitcoin Plus cryptocurrency price fell by -1.42% on the last day (Friday, 31st May 2024) from $2.72 to $2.68. During the last trading day the cryptocurrency fluctuated 18.66% from a day low at $2.48 to a day high of $2.94. The price has fallen in 7 of the last 10 days and is down by -8.04% for this period. Volume has increased on the last day by 230 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, 1 thousand shares were bought and sold for approximately $3.89 thousand.
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 -32.13% during the next 3 months and, with a 90% probability hold a price between $0.85 and $2.21 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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XBCUSD Signals & Forecast
The Bitcoin Plus cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $2.74. On a fall, the cryptocurrency will find some support from the long-term average at approximately $2.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -14.88%. Further fall is indicated until a new bottom pivot has been found. Bitcoin Plus gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bitcoin Plus cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $2.53 and $2.46. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Bitcoin Plus finds support just below today's level at $2.53. If this is broken, then the next support from accumulated volume will be at $2.46 and $2.23.
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 $0.463 between high and low, or 18.66%. For the last week, the cryptocurrency has had daily average volatility of 18.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XBCUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect Bitcoin Plus to open at $2.70, and during the day (based on 14 day Average True Range), to move between $2.13 and $3.22, which gives a possible trading interval of +/-$0.544 (+/-20.30%) up or down from last closing price. If Bitcoin Plus takes out the full calculated possible swing range there will be an estimated 40.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.53 (5.33%) than the resistance at $2.89 (7.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bitcoin Plus cryptocurrency A Buy?
Bitcoin Plus 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.
Current score: -1.507 Sell Candidate Unchanged
Predicted Opening Price for Bitcoin Plus of Saturday, June 1, 2024
| Fair opening price June 1, 2024 | Current price |
|---|---|
| $2.70 ( 0.84%) | $2.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XBCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.16 | 18.12 % | |
| R2 | 2.99 | 11.52 % | ||
| R1 | 2.88 | 7.44 % | ||
| Current price: | 2.68 | |||
| Support | S1 | 2.52 | -5.77 % | |
| S2 | 2.41 | -9.84 % | ||
| S3 | 2.24 | -16.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.15 | 17.48 % | |
| R2 | 2.89 | 8.03 % | ||
| R1 | 2.89 | 7.84 % | ||
| Current price | 2.68 | |||
| Support | S1 | 2.53 | -5.33% | |
| S2 | 2.46 | -8.01% | ||
| S3 | 2.23 | -16.78% |
FAQ
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