BITO's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for BITO turned positive on December 04, 2023. Looking at past instances where BITO's MACD turned positive, the stock continued to rise in of 19 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on December 01, 2023. You may want to consider a long position or call options on BITO as a result. In of 43 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where BITO advanced for three days, in of 104 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 67 cases where BITO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 4 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 4 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 BITO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BITO broke above its upper Bollinger Band on December 04, 2023. 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)
Industry description
General Information
Category Unknown
BITO and
Correlation & Price change
A.I.dvisor indicates that over the last year, BITO has been closely correlated with DEFI. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if BITO jumps, then DEFI could also see price increases.
| Ticker / NAME | Correlation To BITO | 1D Price Change % | ||
|---|---|---|---|---|
| BITO | 100% | +2.84% | ||
| DEFI - BITO | 99% Closely correlated | +2.44% | ||
| BTF - BITO | 99% Closely correlated | +1.90% | ||
| XBTF - BITO | 98% Closely correlated | +2.12% | ||
| BITS - BITO | 90% Closely correlated | +6.37% | ||
| WGMI - BITO | 76% Closely correlated | +9.10% | ||
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