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published in Blogs
Jan 04, 2021

Bitcoin (BTC.X, $31,148.25) falls after record rally

Bitcoin  briefly fell below $30,000 Monday, just two days after topping  that level for the first time.

The cryptocurrency rallied to edge past the $34,000 mark during the weekend. But plunged to $29,316 as of 5:40 a.m. ET Monday. It later climbed back above the $30,000 level. But it was still down more than -5%.

Bitcoin had a historic, more than +300% rally in 2020.

But the volatility in the crypto market has been quite apparent from time to time, with the latest intra-day roller-coaster in bitcoin probably a result of short-term profit taking by investors, among other potential factors.

 

Related Ticker: BTC.X

Aroon Indicator for BTC.X shows an upward move is likely

BTC.X's Aroon Indicator triggered a bullish signal on February 21, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 450 similar instances where the Aroon Indicator showed a similar pattern. In of the 450 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on January 28, 2024. You may want to consider a long position or call options on BTC.X as a result. In of 132 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on January 29, 2024. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 58 cases over the following month. The odds of a continued upward trend are .

BTC.X moved above its 50-day moving average on February 06, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for BTC.X crossed bullishly above the 50-day moving average on February 07, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 442 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 13 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 14 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BTC.X broke above its upper Bollinger Band on February 08, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 1.02T. The market cap for tickers in the group ranges from 1.02T to 1.02T. BTC.X holds the highest valuation in this group at 1.02T. The lowest valued company is BTC.X at 1.02T.

High and low price notable news

The average weekly price growth across all stocks in the group was 0%. For the same group, the average monthly price growth was 31%, and the average quarterly price growth was 99%. BTC.X experienced the highest price growth at 0%, while BTC.X experienced the biggest fall at 0%.

Volume

The average weekly volume growth across all stocks in the group was -27%. For the same stocks of the group, the average monthly volume growth was -9% and the average quarterly volume growth was 131%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
View a ticker or compare two or three
BTC.XDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
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BTC.X and

Correlation & Price change

A.I.dvisor indicates that over the last year, BTC.X has been closely correlated with WBTC.X. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if BTC.X jumps, then WBTC.X could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BTC.X
1D Price
Change %
BTC.X100%
-0.85%
WBTC.X - BTC.X
100%
Closely correlated
-1.09%
BTCUP.X - BTC.X
99%
Closely correlated
-1.70%
NEXO.X - BTC.X
77%
Closely correlated
-2.01%
ETHUP.X - BTC.X
77%
Closely correlated
-0.66%
ETH.X - BTC.X
77%
Closely correlated
-1.43%
More
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