Technical Analysis for BITU - ProShares Ultra Bitcoin ETF
| Grade | Last Price | % Change | Price Change |
|---|---|---|---|
| A | 53.64 | 3.67% | 1.90 |
| ADX | Long Term | Intermediate Term | Short Term |
|---|---|---|---|
| Strong | N/A | Up | Up |
| Date | Alert Name | Type | % Chg |
|---|---|---|---|
| New 52 Week Closing High | Bullish | 0.00% | |
| NR7 | Range Contraction | 0.00% | |
| NR7-2 | Range Contraction | 0.00% | |
| New 52 Week High | Strength | 0.00% | |
| Wide Bands | Range Expansion | 0.00% | |
| Gapped Up | Strength | 0.00% | |
| Overbought Stochastic | Strength | 0.00% | |
| Up 3 Days in a Row | Strength | 0.00% | |
| Up 4 Days in a Row | Strength | 0.00% | |
| New 52 Week Closing High | Bullish | 3.67% |
| Alert | Time |
|---|---|
| Rose Above Previous Day's High | about 20 hours ago |
| New 52 Week High | about 20 hours ago |
| 2x Volume Pace | about 20 hours ago |
| 1.5x Volume Pace | about 20 hours ago |
| Up 5% | about 20 hours ago |
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ProShares Ultra Bitcoin ETF Description
BITU is a bullish one-day bet on Bitcoin, seeking to provide double the 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 invest directly in Bitcoin. The fund primarily invests in swap agreements to obtain leveraged 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 a geared 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 Fund Bitcoin Cryptocurrency 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 |
|---|---|
| Sep 24 | BITU: Knocking On The Door |
| Jul 10 | BITU May Be Too Risky At 2x Leverage |
| Indicator | Value |
|---|---|
| 52 Week High | 54.5 |
| 52 Week Low | 16.3 |
| Average Volume | 2,894,640 |
| 200-Day Moving Average | 0.00 |
| 50-Day Moving Average | 30.96 |
| 20-Day Moving Average | 38.80 |
| 10-Day Moving Average | 46.89 |
| Average True Range | 3.29 |
| RSI (14) | 79.47 |
| ADX | 35.92 |
| +DI | 44.48 |
| -DI | 10.93 |
| Chandelier Exit (Long, 3 ATRs) | 44.64 |
| Chandelier Exit (Short, 3 ATRs) | 36.58 |
| Upper Bollinger Bands | 57.19 |
| Lower Bollinger Band | 20.41 |
| Percent B (%b) | 0.9 |
| BandWidth | 94.80 |
| MACD Line | 6.48 |
| MACD Signal Line | 4.96 |
| MACD Histogram | 1.5192 |
| Pivot Point Level | Traditional / Classic | Fibonacci | Demark | Woodie | Camarilla |
|---|---|---|---|---|---|
| Resistance 4 (R4) | 56.81 | ||||
| Resistance 3 (R3) | 56.74 | 55.62 | 56.28 | ||
| Resistance 2 (R2) | 55.62 | 54.81 | 55.65 | 56.10 | |
| Resistance 1 (R1) | 54.63 | 54.32 | 54.07 | 54.70 | 55.93 |
| Pivot Point | 53.51 | 53.51 | 53.23 | 53.54 | 53.51 |
| Support 1 (S1) | 52.52 | 52.70 | 51.96 | 52.59 | 51.35 |
| Support 2 (S2) | 51.40 | 52.21 | 51.43 | 51.18 | |
| Support 3 (S3) | 50.41 | 51.40 | 51.00 | ||
| Support 4 (S4) | 50.48 |
