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BITC Stock Tickeron detected bearish ETF Pattern: Broadening Wedge Ascending BITC on December 26, 2024, netting in a 20.85% gain over 1 month

A.I.dvisor
at Tickeron.com
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+20.85% Gain from a Successful pattern Broadening Wedge Ascending
BITC - Bitwise Trendwise Bitcoin&TreasRotaStrat
Tickeron
Ticker: BITC
Company: Bitwise Trendwise Bitcoin&TreasRotaStrat
Gain from shortening: +20.85%
Confirmed: 12/26/24
Succeeded: 12/26/24
Total length: 50 days
On November 06, 2024, A.I.dvisor detected a Broadening Wedge Ascending Pattern (Bearish) for Bitwise Trendwise Bitcoin&TreasRotaStrat (BITC, $39.23). 50 days later, on December 26, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On December 26, 2024, the stock hit the target price of $34.17 – resulting in a +2 gain for traders who shorted the stock on the pattern detection date.

Momentum Indicator for BITC turns negative, indicating new downward trend

BITC saw its Momentum Indicator move below the 0 level on December 19, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator turned negative. In of the 33 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

BITC moved below its 50-day moving average on January 07, 2025 date and that indicates a change from an upward trend to a downward trend.

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

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 11 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 BITC advanced for three days, in of 96 cases, the price rose further within the following month. The odds of a continued upward trend are .

BITC may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 102 cases where BITC Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

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