Short

BETA Prints Another Bearish Signal On The Daily Chart

After its massive pump and many bullish continuation signs, BETA hasn't met expectations.

Conversely, the price has fallen 50% since its top two weeks ago.

At the same time, the amount of bearish trade signals has increased constantly. Initially, on a lower timeframe, the bearish momentum swept over to the daily chart.

Today, BETA flashed a bearish EMA crossover. This signal indicates that the short-term trend has turned bearish and fallen below a longer-term trend. It usually indicates further downward potential.

Backtests show that the price dipped 5% or more in 90% of the cases after the signal flashed (based on 11 signals on the daily chart).

From a chart perspective, the next support sits at 0.052, which also aligns with backtest data.

ben_walther

I'm Ben. Crypto lover, trader, and coder.

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