Technical Analysis for BTFX - Valkyrie Bitcoin Futures Leveraged Strategy ETF

Grade Last Price % Change Price Change
A 54.30 9.26% 4.60
BTFX closed up 9.26 percent on Friday, November 15, 2024, on 1.51 times normal volume. Due to the stock's strong uptrend, it may remain overbought for a while. So, if you're looking for a reason to sell, don't put too much weight on it being overbought.
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Trend Table & Recent EOD Trading Signals

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%
180 Bullish Setup Bullish Swing Setup 0.00%
Upper Bollinger Band Walk Strength 0.00%
Multiple of Ten Bullish Other 0.00%
Inside Day Range Contraction 0.00%
Wide Bands Range Expansion 0.00%
Gapped Up Strength 0.00%
Overbought Stochastic Strength 0.00%
Evening Star Bearish 9.26%
Slingshot Bullish Bullish Swing Setup 9.26%

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Valkyrie Bitcoin Futures Leveraged Strategy ETF Description

BTFX aims to enhance returns by leveraging cash-settled Bitcoin futures contracts seeking to double the index performance return. This approach allows tracking of Bitcoins price shifts without direct ownership of the digital asset. Additionally, the fund may invest in other Bitcoin Futures ETFs and Bitcoin-linked ETPs, striking a balance between risks and opportunities within the digital assets space. The fund strategically diversifies across a range of high-quality securities, including US Government bonds, money market funds, and premium corporate debt securities to manage risk. Notably, BTFX ensures compliance with regulatory standards through its Cayman Islands Subsidiary. To comply with RIC requirements, BTFX will invest in reverse repurchase agreements. Despite Bitcoins known volatility, BTFX aims to provide a vehicle to navigate the cryptocurrency market. Thorough due diligence on cryptocurrency investment risks is essential before considering investment in the fund.


Classification

Keywords: Bitcoin Cryptocurrency Us Government Economics Of Bitcoin

Is BTFX a Buy, Sell or Hold?

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

Indicators

Indicator Value
52 Week High 56.29
52 Week Low 16.37
Average Volume 41,418
200-Day Moving Average 0.00
50-Day Moving Average 30.79
20-Day Moving Average 37.94
10-Day Moving Average 43.73
Average True Range 3.34
RSI (14) 77.01
ADX 32.36
+DI 47.31
-DI 14.08
Chandelier Exit (Long, 3 ATRs) 46.26
Chandelier Exit (Short, 3 ATRs) 38.81
Upper Bollinger Bands 54.79
Lower Bollinger Band 21.10
Percent B (%b) 0.99
BandWidth 88.78
MACD Line 6.08
MACD Signal Line 4.20
MACD Histogram 1.8798
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 60.77
Resistance 3 (R3) 60.05 57.17 59.69
Resistance 2 (R2) 57.17 55.53 57.53 59.33
Resistance 1 (R1) 55.74 54.51 56.46 56.46 58.97
Pivot Point 52.86 52.86 53.22 53.22 52.86
Support 1 (S1) 51.43 51.22 52.15 52.15 49.63
Support 2 (S2) 48.55 50.20 48.91 49.27
Support 3 (S3) 47.12 48.55 48.91
Support 4 (S4) 47.84