The Nasdaq Reversal 2x ETF is a fund that has an inverse relationship to the Nasdaq (American index). This means that if, due to various reasons, the Nasdaq drops, then the fund’s shares will grow. At the same time, growth in the Nasdaq index will be accompanied by a fall in the fund's stock. 2x means that the stock will grow or fall twice as fast as the index itself.
To analyze how the fund’s stocks will behave, you must, first and foremost, analyze the situation in the US stock market. If there are is a crisis, then it makes sense to buy ETF stocks in anticipation of further growth.