Technical Analysis for BTFX - Valkyrie Bitcoin Futures Leveraged Strategy ETF

Grade Last Price % Change Price Change
A 57.68 3.69% 2.05
BTFX closed up 3.69 percent on Wednesday, November 20, 2024, on 1.68 times 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 bulls were able to push the stock to a new 52-week high. Due to the stock's strong uptrend, it may remain overbought for a while. So, if you're looking for a reason to sell, don't put too much weight on it being overbought.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Strong N/A Up Up

Date Alert Name Type % Chg
New 52 Week Closing High Bullish 0.00%
NR7 Range Contraction 0.00%
New 52 Week High Strength 0.00%
Wide Bands Range Expansion 0.00%
Gapped Up Strength 0.00%
Overbought Stochastic Strength 0.00%
New 52 Week Closing High Bullish 3.69%
Calm After Storm Range Contraction 3.69%
New 52 Week High Strength 3.69%
Wide Bands Range Expansion 3.69%

   Recent Intraday Alerts

Alert Time
Gapped Up (Full) about 22 hours ago
Rose Above Previous Day's High about 22 hours ago
New 52 Week High about 22 hours ago
2x Volume Pace about 22 hours ago
1.5x Volume Pace about 22 hours ago

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Profile

Valkyrie Bitcoin Futures Leveraged Strategy ETF Description

BTFX aims to enhance returns by leveraging cash-settled Bitcoin futures contracts seeking to double the index performance return. This approach allows tracking of Bitcoins price shifts without direct ownership of the digital asset. Additionally, the fund may invest in other Bitcoin Futures ETFs and Bitcoin-linked ETPs, striking a balance between risks and opportunities within the digital assets space. The fund strategically diversifies across a range of high-quality securities, including US Government bonds, money market funds, and premium corporate debt securities to manage risk. Notably, BTFX ensures compliance with regulatory standards through its Cayman Islands Subsidiary. To comply with RIC requirements, BTFX will invest in reverse repurchase agreements. Despite Bitcoins known volatility, BTFX aims to provide a vehicle to navigate the cryptocurrency market. Thorough due diligence on cryptocurrency investment risks is essential before considering investment in the fund.


Classification

Keywords: Bitcoin Cryptocurrency Us Government Economics Of Bitcoin

Is BTFX a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 58.44
52 Week Low 16.37
Average Volume 44,819
200-Day Moving Average 0.00
50-Day Moving Average 32.84
20-Day Moving Average 41.72
10-Day Moving Average 50.37
Average True Range 3.31
RSI (14) 79.42
ADX 37.62
+DI 46.49
-DI 11.37
Chandelier Exit (Long, 3 ATRs) 48.50
Chandelier Exit (Short, 3 ATRs) 38.72
Upper Bollinger Bands 61.41
Lower Bollinger Band 22.04
Percent B (%b) 0.91
BandWidth 94.36
MACD Line 7.04
MACD Signal Line 5.45
MACD Histogram 1.587
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 60.93
Resistance 3 (R3) 60.82 59.63 60.39
Resistance 2 (R2) 59.63 58.80 59.68 60.21
Resistance 1 (R1) 58.66 58.29 58.06 58.76 60.03
Pivot Point 57.47 57.47 57.17 57.52 57.47
Support 1 (S1) 56.49 56.64 55.90 56.60 55.33
Support 2 (S2) 55.30 56.13 55.35 55.15
Support 3 (S3) 54.33 55.30 54.97
Support 4 (S4) 54.43