BITU shallow pullbackBITU - channel resistant , short to target 28 where 4h demand exists. Not look for staying short too long on this one. It will eventually break the channel to the upside. Will update chart when long signal happens.
Key stats
About ProShares Trust ProShares Ultra Bitcoin ETF
Expense ratio
0.95%
Home page
Inception date
Apr 2, 2024
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
What's in the fund
Exposure type
Miscellaneous
Cash
Bonds, Cash & Other100.00%
Miscellaneous66.67%
Cash33.33%
Displays a symbol's price movements over previous years to identify recurring trends.