Learn to Evaluate (BTFX) using the Charts

November 28, 2024, 12:34 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for BTFX

• Buy BTFX near 44.34 target n/a stop loss @ 44.21. Details

The technical summary data tells us to buy BTFX near 44.34, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 44.21 to protect against excessive loss in case the stock begins to move against the trade. 44.34 is the first level of support below 59.32, and by rule, any test of support is a buy signal. In this case, if support 44.34 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for BTFX

• Buy BTFX slightly over 63.55, target n/a, Stop Loss @ 63.37 Details

If 63.55 begins to break higher, the technical summary data tells us to buy BTFX just slightly over 63.55, with an upside target of n/a. The data also tells us to set a stop loss @ 63.37 in case the stock turns against the trade. 63.55 is the first level of resistance above 59.32, and by rule, any break above resistance is a buy signal. In this case, 63.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BTFX slightly near 63.55, target 57.38, Stop Loss @ 63.73. Details

The technical summary data is suggesting a short of BTFX if it tests 63.55 with a downside target of 57.38. We should have a stop loss in place at 63.73 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 63.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BTFX

• Buy BTFX slightly over 63.55, target n/a, Stop Loss @ 63.4 Details

If 63.55 begins to break higher, the technical summary data tells us to buy BTFX just slightly over 63.55, with an upside target of n/a. The data also tells us to set a stop loss @ 63.4 in case the stock turns against the trade. 63.55 is the first level of resistance above 59.32, and by rule, any break above resistance is a buy signal. In this case, 63.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BTFX slightly near 63.55, target 58.43, Stop Loss @ 63.7. Details

The technical summary data is suggesting a short of BTFX if it tests 63.55 with a downside target of 58.43. We should have a stop loss in place at 63.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 63.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Valkyrie Bitcoin Futures Leveraged Strategy Etf (BTFX) available here: BTFX.

BTFX Ratings for November 28:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	21.7
P2	53.92	57.38	32.22
P3	58.43	63.55	44.34

AI Generated Signals for BTFX

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