As of March 26, 2026, BITX (2X BITCOIN STRATEGY ETF) is in a falling knife state on the monthly chart, with a confidence level of 74%. Key support is at $14.0 and key resistance at $22.0. Monthly selloff accelerated: series of LH/LL, breakdown from the prior $50-$60 area to ~$16 with only a small bounce; RSI ~41 and price far below the falling mid-term trend line/MA.
Bearish continuation: price retests ~$18-$19 then rolls over and undercuts support, completing a capitulation leg; likely Elliott Wave count is a strong Wave 3 down from the ~$60 top with a small Wave 4 bounce, then Wave 5 to new lows.
Bottoming attempt: a base forms between ~$14-$18, then a reclaim of ~$22 triggers a larger mean-reversion rally toward the next supply cluster; fits an Elliott A-B-C correction up from the low (A up, B retest, C continuation) if sellers fail to print a fresh LL.
Confirm FALLING_KNIFE on a monthly close below $14.00 (new LL under the most recent swing low area).
Invalidate FALLING_KNIFE on 2 consecutive monthly closes above $22.00 (reclaim and hold the broken support zone).
Scale in at/near the current swing-low zone ($14-$16); add on a flush into the next support shelf ($12-$14.5); heavy add only on capitulation to the prior base/round-number demand ($10-$12).
Trim into likely overhead supply/mean-reversion zones first ($30s), then the prior distribution region ($45-$55), and fully exit into a retest/extension toward the old highs ($60+).
As of March 26, 2026, BITX (2X BITCOIN STRATEGY ETF) is in a falling knife state on the monthly chart with 74% confidence. Monthly selloff accelerated: series of LH/LL, breakdown from the prior $50-$60 area to ~$16 with only a small bounce; RSI ~41 and price far below the falling mid-term trend line/MA.
On the monthly timeframe, BITX has key support at $14.0 and key resistance at $22.0. The most likely scenario (bearish) targets $14.0 and $10.0, with a revert level at $19.0.
BITX (2X BITCOIN STRATEGY ETF) is currently classified as falling knife on the monthly chart, with 74% confidence. Confirmation requires: Confirm FALLING_KNIFE on a monthly close below $14.00 (new LL under the most recent swing low area). This would be invalidated by: Invalidate FALLING_KNIFE on 2 consecutive monthly closes above $22.00 (reclaim and hold the broken support zone).
The most likely scenario (bearish) targets $14.0 and $10.0, with a revert level at $19.0. The alternative scenario (bullish) targets $22.0 and $30.0.
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