BITOBITO is showing a buy signal now. Finally found a close above the 5SMA based on my swing trade strategy.
Key stats
About ProShares Bitcoin ETF
Home page
Inception date
Oct 19, 2021
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
BITO provides exposure to bitcoin returns in an ETF wrapper. The fund does not invest directly in bitcoin. The fund will invest in cash settled, front-month bitcoin futures, traded on commodity exchanges registered with the Commodity Futures Trading Commission (CFTC), such as the CME Futures Exchange. The value of bitcoin futures is determined by the CME Group and Crypto Facilities Bitcoin Reference Rate (CME CF BRR), which aggregates bitcoin trading activity across major global bitcoin spot trading venues during a one-hour window. The one-hour window is divided equally into twelve 5-minute segments. Each segment has a volume-weighted median (VWM). The BRR value is expressed as the arithmetic mean of the 12 VWMs. Prices are usually determined at 4:00 p.m. (London Time). The fund itself gains exposure through a wholly owned Cayman Island subsidiary. Before September 27, 2024, the fund was named ProShares Bitcoin Strategy ETF.
Classification
Symbol
Geography
Global
What's in the fund
Exposure type
Government
Cash
Bonds, Cash & Other100.00%
Government50.98%
Cash49.02%
Top 10 holdings
$BITO ProShares Bitcoin ETFReal clean 3 rising valleys Bito will confirm with a retest of the top of the range / neckline.
The measured move of this pattern is a 1.618 extension, suggesting the potential for a price appreciation of 300%.
This would have some pretty serious implications for Bitcoin of course, as the underl
BITO's Elliot Waves on 1DTwo resistance nodes were found on $28.44 and $33.67 on the daily TF.
Based on the MCB indicator, there is no sign of bearish divergence on both lower and higher TF.
Daily RSI is at the overbought area, and two nodes on the VWAP show two possible prices at (0.618/0.768).
Hoping for a healthy pull-b
Opened (IRA): BITO June 28th 31 Covered Call... for a 27.55 debit.
Comments: Not the weakness I was looking for, but setting myself up to grab the early June dividend.
Generally, I'll look to roll out the short call at 50% max ... .
Bit-Coin Fund $BITO is trying to end a long correctionThe Bit-Coin Fund AMEX:BITO is trying to end a long correction.
First Higher Low Since April 1st, 2024After an "yearful" of lower lows, we finally have a higher low.
Support zone: 16.02-17.52
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(BITO 1M chart)
As a spot ETF chart, the HA-Low indicator is formed at the 16.02 point.
Therefore, the key is whether it can
BITO Swing Trade & Passive Income Play Shares only: BITO gives you exposure of the movement from Bitcoin without actually owning Bitcoin. Now BITO is volatile so you will get big moves up or down. Now i like BITO for a swing if Bitcoin gets another leg up from the bull flag that its currently trading within. The chart shows a comparison
BITO Daily Gap FillHas an upside gap fill with price targets of: 21.20, 21.90, and 22.60
Crypto as a whole has a lot of sudden interest with the narrative of rates falling in the future
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.