Technical Analysis for SBIT - ProShares UltraShort Bitcoin ETF
| ADX | Long Term | Intermediate Term | Short Term |
|---|---|---|---|
| Weak or Absent | N/A | N/A | Down |
| Date | Alert Name | Type | % Chg |
|---|---|---|---|
| Stochastic Sell Signal | Bearish | -4.84% | |
| NR7 | Range Contraction | -4.84% | |
| Wide Bands | Range Expansion | -4.84% | |
| Gapped Down | Weakness | -4.84% | |
| Wide Bands | Range Expansion | -13.45% | |
| Overbought Stochastic | Strength | -13.45% | |
| Gapped Down | Weakness | -13.45% | |
| New 52 Week Closing High | Bullish | -21.09% | |
| Pocket Pivot | Bullish Swing Setup | -21.09% | |
| New 52 Week High | Strength | -21.09% |
| Alert | Time |
|---|---|
| Gapped Down (Full) | about 2 hours ago |
| 2x Volume Pace | about 2 hours ago |
| 1.5x Volume Pace | about 2 hours ago |
| Down 5% | about 2 hours ago |
| Down 3% | about 2 hours ago |
Free Daily (Stock) Chart Reading
ProShares UltraShort Bitcoin ETF Description
SBIT is a bearish one-day bet against Bitcoin, seeking to provide double the inverse daily returns of its underlying Bitcoin index. The index, maintained by Bloomberg Index Services Limited, is designed as a proxy for the Bitcoin market. The index price is a composite of US Dollar-Bitcoin trading activities reported by digital asset platforms. The fund does not directly short Bitcoin. The fund primarily invests in swap agreements to obtain inverse exposure to the index. If the fund is unable to gain its desired exposure to Bitcoin, it may also invest in other instruments, such as cash-settled CME Bitcoin futures. The fund also holds money market instruments for necessary collateral. It gains exposure by utilizing a wholly owned Cayman Islands subsidiary. The returns of the fund can vary significantly from -2x exposure if held for longer than a day. As an inverse product with daily resets, the fund is designed as a short-term trading tool and not a long-term investment vehicle.
Classification
Keywords: Exchange Traded Funds Bitcoin Futures Markets Economics Of Bitcoin Short Term Trading Tool Market Sentiment Bitcoin/Us Dollar Fx Spot Rate Composite Display Fx Spot Rate
| Indicator | Bull Case | Neutral / Hold | Bear Case |
|---|---|---|---|
| 50 DMA | |||
| 200 DMA | |||
| ADX Trend | |||
| Oversold / Overbought | |||
| Relative Strength |
| Date | Title |
|---|---|
| Apr 2 | New ETFs Target Double the Daily Return of Bitcoin |
| Indicator | Value |
|---|---|
| 52 Week High | 56.53 |
| 52 Week Low | 37.5001 |
| Average Volume | 200,606 |
| 200-Day Moving Average | 0.00 |
| 50-Day Moving Average | 0.00 |
| 20-Day Moving Average | 45.15 |
| 10-Day Moving Average | 46.75 |
| Average True Range | 3.49 |
| RSI (14) | 52.15 |
| ADX | 0.0 |
| +DI | 36.97 |
| -DI | 26.57 |
| Chandelier Exit (Long, 3 ATRs) | 46.05 |
| Chandelier Exit (Short, 3 ATRs) | 47.98 |
| Upper Bollinger Bands | 53.88 |
| Lower Bollinger Band | 36.43 |
| Percent B (%b) | 0.57 |
| BandWidth | 38.63 |
| MACD Line | 2.57 |
| MACD Signal Line | 1.60 |
| MACD Histogram | 0.9703 |
| Pivot Point Level | Traditional / Classic | Fibonacci | Demark | Woodie | Camarilla |
|---|---|---|---|---|---|
| Resistance 4 (R4) | 49.10 | ||||
| Resistance 3 (R3) | 49.33 | 48.63 | 48.63 | ||
| Resistance 2 (R2) | 48.63 | 47.93 | 48.52 | 48.48 | |
| Resistance 1 (R1) | 47.48 | 47.49 | 47.13 | 47.25 | 48.32 |
| Pivot Point | 46.78 | 46.78 | 46.61 | 46.67 | 46.78 |
| Support 1 (S1) | 45.63 | 46.08 | 45.28 | 45.40 | 44.32 |
| Support 2 (S2) | 44.93 | 45.64 | 44.82 | 44.16 | |
| Support 3 (S3) | 43.78 | 44.93 | 44.01 | ||
| Support 4 (S4) | 43.55 |
