Technical Analysis for BITU - ProShares Ultra Bitcoin ETF

Grade Last Price % Change Price Change
C 34.95 6.07% 2.00
BITU closed up 6.07 percent on Friday, May 17, 2024, on 1.19 times normal volume. Note that the stock is in overbought territory based on its Slow Stochastic indicator (14, 3, 3) -- so don't be surprised if it goes sideways or a pulls back.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Weak or Absent N/A N/A Up

Date Alert Name Type % Chg
Pocket Pivot Bullish Swing Setup 0.00%
Stochastic Reached Overbought Strength 0.00%
Wide Bands Range Expansion 0.00%
Gapped Up Strength 0.00%
Overbought Stochastic Strength 0.00%
Inside Day Range Contraction 6.07%
Wide Bands Range Expansion 6.07%
Crossed Above 20 DMA Bullish 2.79%
Wide Bands Range Expansion 2.79%
Gapped Up Strength 2.79%

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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.


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

Is BITU a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength


Indicator Value
52 Week High 42.47
52 Week Low 25.2
Average Volume 696,195
200-Day Moving Average 0.00
50-Day Moving Average 0.00
20-Day Moving Average 31.34
10-Day Moving Average 31.46
Average True Range 2.59
RSI (14) 55.36
ADX 21.02
+DI 27.22
-DI 28.44
Chandelier Exit (Long, 3 ATRs) 28.34
Chandelier Exit (Short, 3 ATRs) 32.98
Upper Bollinger Bands 36.51
Lower Bollinger Band 26.17
Percent B (%b) 0.85
BandWidth 33.01
MACD Line -0.95
MACD Signal Line -1.71
MACD Histogram 0.7695
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 37.62
Resistance 3 (R3) 37.46 36.42 37.18
Resistance 2 (R2) 36.42 35.74 36.50 37.03
Resistance 1 (R1) 35.68 35.32 36.05 35.84 36.88
Pivot Point 34.64 34.64 34.82 34.72 34.64
Support 1 (S1) 33.90 33.96 34.27 34.06 33.02
Support 2 (S2) 32.86 33.54 32.94 32.87
Support 3 (S3) 32.12 32.86 32.73
Support 4 (S4) 32.28