Shorting $BEAT : Riding the Trend Down
The trend is clear, and we are not fighting it. $BEAT is looking heavy as it slides down the charts, and we are stepping in to ride this move lower. The 15m, 1h, and 4h timeframes are locked in a clean downtrend, with price trading well below the major EMAs. An RSI of 45.63 shows there is still plenty of room to push down before hitting oversold territory, while the MACD holds in negative territory to confirm the bearish grip. We are keeping it simple and taking the shot on this setup.
đ Direction: SHORT
đŻ Entry Zone: 0.1270 â 0.1310
đ° Take Profit 1: 0.1140
đ° Take Profit 2: 0.1049
đ Stop Loss: 0.1410
⥠Confidence: 75%
â ïž Risk Rating: LOW
If the bulls manage to push us past 0.1410, the setup is invalidated and we exit.
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#DeGenYuv #BEAT
The trend is clear, and we are not fighting it. $BEAT is looking heavy as it slides down the charts, and we are stepping in to ride this move lower. The 15m, 1h, and 4h timeframes are locked in a clean downtrend, with price trading well below the major EMAs. An RSI of 45.63 shows there is still plenty of room to push down before hitting oversold territory, while the MACD holds in negative territory to confirm the bearish grip. We are keeping it simple and taking the shot on this setup.
đ Direction: SHORT
đŻ Entry Zone: 0.1270 â 0.1310
đ° Take Profit 1: 0.1140
đ° Take Profit 2: 0.1049
đ Stop Loss: 0.1410
⥠Confidence: 75%
â ïž Risk Rating: LOW
If the bulls manage to push us past 0.1410, the setup is invalidated and we exit.
Follow for daily crypto updates.
#DeGenYuv #BEAT
