Technical Analysis for BITI - ProShares Short Bitcoin Strategy ETF
| Grade | Last Price | % Change | Price Change |
|---|---|---|---|
| F | 24.11 | -1.71% | -0.42 |
BITI closed down 1.71 percent on Wednesday, November 20, 2024, on approximately normal volume. The stock exhibited some range contraction during this trading session as price made an NR7 -- narrowest range of the last seven sessions. The bears made the stock sink to a new 52-week low. Due to the stock's strong downtrend, it may remain oversold for a while. So, if you're looking for a reason to buy, don't put too much weight on it being oversold.
| ADX | Long Term | Intermediate Term | Short Term |
|---|---|---|---|
| Strong | Down | Down | Down |
| Date | Alert Name | Type | % Chg |
|---|---|---|---|
| New 52 Week Closing Low | Bearish | 0.00% | |
| NR7 | Range Contraction | 0.00% | |
| NR7-2 | Range Contraction | 0.00% | |
| Narrow Range Bar | Range Contraction | 0.00% | |
| New 52 Week Low | Weakness | 0.00% | |
| Wide Bands | Range Expansion | 0.00% | |
| Gapped Down | Weakness | 0.00% | |
| Oversold Stochastic | Weakness | 0.00% | |
| New 52 Week Closing Low | Bearish | -1.71% | |
| NR7 | Range Contraction | -1.71% |
| Alert | Time |
|---|---|
| Possible NR7 | about 18 hours ago |
| 60 Minute Opening Range Breakout | about 21 hours ago |
| 2x Volume Pace | about 22 hours ago |
| 1.5x Volume Pace | about 22 hours ago |
| Fell Below Previous Day's Low | about 22 hours ago |
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Basic chart:
BITI is designed to deliver the inverse (opposite) of the performance of the S&P CME Bitcoin Futures Index. It seeks to achieve its objective on each investment day and for no other period. BITI seeks to obtain exposure through bitcoin futures contracts.
Keywords: Inverse ETF Bitcoin Cryptocurrency Futures Markets Digital Currencies Economics Of Bitcoin
Classification
Keywords: Inverse ETF Bitcoin Cryptocurrency Futures Markets Digital Currencies Economics Of Bitcoin
| Indicator | Bull Case | Neutral / Hold | Bear Case |
|---|---|---|---|
| 50 DMA | |||
| 200 DMA | |||
| ADX Trend | |||
| Oversold / Overbought | |||
| Relative Strength |
S
SwingScalp over 1 year ago
Been shorting MSTR, to bet against Bitcoin recently, and that worked fine today for a swing, but might trade this ETF too when the 'flagship crypto' is in risk-off mode.
T
TraderMike over 1 year ago
I've had this on my "if & when" watchlist for a couple of months now. It did climb above its 20 DMA today. 🤔🤔🤔
S
SwingScalp over 1 year ago
Down 47.01% YTD. Up 8.33% past 5 days. Could see BITI racing up to its SMA(50). I guess we'll both be keeping an eye on this one. I do like MSTR to head south so will place a sell stop just below yesterday's close, say $292.50 or so, for today. Unless it gaps down before the open and I have to chase it lower.
View full discussion...
| Indicator | Value |
|---|---|
| 52 Week High | 74.5395 |
| 52 Week Low | 23.89 |
| Average Volume | 2,176,009 |
| 200-Day Moving Average | 39.03 |
| 50-Day Moving Average | 34.29 |
| 20-Day Moving Average | 29.79 |
| 10-Day Moving Average | 26.16 |
| Average True Range | 1.35 |
| RSI (14) | 14.53 |
| ADX | 43.65 |
| +DI | 7.71 |
| -DI | 48.10 |
| Chandelier Exit (Long, 3 ATRs) | 31.99 |
| Chandelier Exit (Short, 3 ATRs) | 27.93 |
| Upper Bollinger Bands | 37.86 |
| Lower Bollinger Band | 21.72 |
| Percent B (%b) | 0.15 |
| BandWidth | 54.16 |
| MACD Line | -3.07 |
| MACD Signal Line | -2.60 |
| MACD Histogram | -0.4725 |
| Pivot Point Level | Traditional / Classic | Fibonacci | Demark | Woodie | Camarilla |
|---|---|---|---|---|---|
| Resistance 4 (R4) | 24.85 | ||||
| Resistance 3 (R3) | 24.85 | 24.62 | 24.72 | ||
| Resistance 2 (R2) | 24.62 | 24.43 | 24.61 | 24.68 | |
| Resistance 1 (R1) | 24.36 | 24.31 | 24.49 | 24.36 | 24.64 |
| Pivot Point | 24.13 | 24.13 | 24.19 | 24.12 | 24.13 |
| Support 1 (S1) | 23.87 | 23.94 | 24.00 | 23.87 | 23.58 |
| Support 2 (S2) | 23.64 | 23.82 | 23.63 | 23.54 | |
| Support 3 (S3) | 23.38 | 23.64 | 23.50 | ||
| Support 4 (S4) | 23.38 |
