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Dec 30, 2020

Crypto overview: week of 12/28-1/1

As this year has proven once again, tangible and intangible assets with low or no stock market correlation gain traction during uncertain times. 

 

After soaring to another absolute maximum early Sunday morning, Bitcoin is still on the rise, following some white noise fluctuations. Since an approximate 41% drop on March 14, (around the time the lockdown was beginning), BTC.X saw a steady rise throughout 2020, with a 43% surge from December 12 through yesterday, December 28. Tickeron’s outlook, as of today, is fairly positive, with four technical indicators, one fundamental analysis rating, and our A.I. predicting a short-term bullish trend with an average likelihood of 52%. Notably, the A.I. Trend Prediction — Tickeron’s backtested algo basing its predictions on previous outcomes of similar price fluctuations — confidently says an uptrend is predicted with a 84% chance. However, four indicators and ratings point to a downward trend with 33% odds, in addition to the Stochastic and RSI indicators, which both have BTC.X as overbought, so the trader is advised to be cautiously optimistic. A good way to gauge general sentiment is to visit Community Trend Predictions under the Academy / Community tab to see what other Tickeron users, including experts, think will happen in the next week or month.

 

Ethereum, after a reversal to its pre-January levels in the middle of March, has been hiking upward, with notable zeal, especially starting December 24. Tickeron has a strong buy on ETH.X, with six technical indicators assuredly promising smooth sailing with an average 67% likelihood. Furthermore, all of the Tickeron signals since July (the earliest available), had an uptrend for ETH.X. According to the 1-year graph, all the signals were proven correct. However, small fluctuations may be in store, according to RSI and Stochastic indicators.

 

After a 51% crash following an inconvenient dispute with the SEC about treating XRP as a security and holding unregistered sales, XRP Ripple has returned to its pre-November-spike status of trading below $0.3. However, despite the collapse on Dec 26, Tickeron has XRP at a 50% likelihood for an uptrend, as the RSI indicator moves into the oversold zone. Our Pattern Search Engine has the ticker at a 50% probability to follow a Cup-and-Handle pattern, emerged on December 21. However, we’ve yet to see a breakout. With a 170% distance to target price, it’s not looking likely, but a good bet if XRP finds a way to save face.

 

The coming week spells uncertainty for Tezos as the price oscillates around the $2 mark, dropping to $1.8 and reaching $2.2 within the course of five days. Six of our indicators point toward a downtrend while four are confident about an uptrend, both of these values averaging around 60%. Having dropped below its 50-day average on Dec 21, the price is anticipated to fall further. This is supported by the Broadening Bottom pattern, which emerged on December 23 and points to a downtrend. and However, our AI Trend Predictions shows a bullish tendency based on 97 previous situations with similar confidence levels to the ones Tezos is currently experiencing, with a 67% likelihood. This is supported by the RSI indicator, confirming that the coin has left the oversold zone and is trending upward. 

Related Ticker: BTC.X

BTC.X sees MACD Histogram crosses below signal line

BTC.X saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on June 08, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 57 instances where the indicator turned negative. In of the 57 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for BTC.X moved out of overbought territory on May 21, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 56 similar instances where the indicator moved out of overbought territory. In of the 56 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on June 13, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BTC.X as a result. In of 140 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

BTC.X moved below its 50-day moving average on June 18, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for BTC.X crossed bearishly below the 50-day moving average on June 20, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

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 June 04, 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.

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

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 433 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 426 cases where BTC.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 14.00% within the next month with a likelihood of 52%.

Market Cap

The average market capitalization across the group is 1.28T. The market cap for tickers in the group ranges from 1.28T to 1.28T. BTC.X holds the highest valuation in this group at 1.28T. The lowest valued company is BTC.X at 1.28T.

High and low price notable news

The average weekly price growth across all stocks in the group was -3%. For the same group, the average monthly price growth was -8%, and the average quarterly price growth was 48%. BTC.X experienced the highest price growth at -3%, while BTC.X experienced the biggest fall at -3%.

Volume

The average weekly volume growth across all stocks in the group was -11%. For the same stocks of the group, the average monthly volume growth was -45% and the average quarterly volume growth was 90%

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)
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BTC.XDaily Signal changed days agoGain/Loss if shorted
 
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