BITS Stock Tickeron detected bearish ETF Pattern: Cup-and-Handle Inverse on January 16, 2025

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BITS - Global X Blockchain & Bitcoin Str ETF

Emerged: 01/16/25

Breakout: $67.46

Price: $73.42

Target price: $59.17

BITS in downward trend: price dove below 50-day moving average on January 08, 2025

BITS moved below its 50-day moving average on January 08, 2025 date and that indicates a change from an upward trend to a downward trend. In of 22 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day moving average for BITS crossed bearishly below the 50-day moving average on January 07, 2025. This indicates that the trend has shifted lower and could be considered a sell signal. In of 8 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 BITS 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 Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 38 cases where BITS's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on January 06, 2025. You may want to consider a long position or call options on BITS as a result. In of 56 past instances where the momentum indicator moved above 0, the stock continued to climb. 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 BITS advanced for three days, in of 175 cases, the price rose further within the following month. The odds of a continued upward trend are .