Technical Analysis for BTFX - Valkyrie Bitcoin Futures Leveraged Strategy ETF

Grade Last Price % Change Price Change
F 23.55 -13.07% -3.54
BTFX closed down 13.07 percent on Friday, July 5, 2024, on 2.86 times normal volume. 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.
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Trend Table & Recent EOD Trading Signals

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

Date Alert Name Type % Chg
New 52 Week Closing Low Bearish 0.00%
Gilligan's Island Buy Setup Bullish Swing Setup 0.00%
New 52 Week Low Weakness 0.00%
Wide Bands Range Expansion 0.00%
Below Lower BB Weakness 0.00%
Down 3 Days in a Row Weakness 0.00%
Gapped Down Weakness 0.00%
Lower Bollinger Band Touch Weakness 0.00%
Oversold Stochastic Weakness 0.00%
New Downtrend Bearish -13.07%

   Recent Intraday Alerts

Alert Time
2x Volume Pace about 23 hours ago
1.5x Volume Pace about 23 hours ago
Down 5% about 23 hours ago
Down 3% about 23 hours ago
Fell Below Lower Bollinger Band about 23 hours ago

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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 Economics Of Bitcoin Us Government

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 49.79
52 Week Low 22.64
Average Volume 64,227
200-Day Moving Average 0.00
50-Day Moving Average 33.75
20-Day Moving Average 32.16
10-Day Moving Average 28.52
Average True Range 2.30
RSI (14) 30.07
ADX 27.69
+DI 13.17
-DI 47.29
Chandelier Exit (Long, 3 ATRs) 34.29
Chandelier Exit (Short, 3 ATRs) 29.55
Upper Bollinger Bands 40.65
Lower Bollinger Band 23.66
Percent B (%b) -0.01
BandWidth 52.83
MACD Line -2.58
MACD Signal Line -1.83
MACD Histogram -0.749
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 25.58
Resistance 3 (R3) 25.50 24.74 25.24
Resistance 2 (R2) 24.74 24.23 24.78 25.12
Resistance 1 (R1) 24.15 23.91 24.45 24.23 25.01
Pivot Point 23.39 23.39 23.54 23.43 23.39
Support 1 (S1) 22.80 22.88 23.10 22.88 22.09
Support 2 (S2) 22.04 22.56 22.08 21.98
Support 3 (S3) 21.45 22.04 21.86
Support 4 (S4) 21.53