BETA — Buy Signal on the Weekly Chart — 80% Potential 🚀
I posted a buy signal about BETA that flashed on the daily chart just yesterday. After yesterday's weekly candle close, things look even more promising.
Here are the details 👇
$BETA printed a bullish MACD crossover on the weekly chart. Signals on the weekly chart are highly reliable regarding long-term trends. This means the signal's potential might not play immediately, but it is highly likely to realize its potential during the next few weeks.
Backtest Details 🧐
The signal has solid backtest results. Based on 7 historical signals, TRB dipped over 5% after signals flashed in 72% of their occurrence.
Other Technical Indicators 💹
As usual, the number of signals considered in the backtests on the weekly chart is limited. However, so far, every time BETA flashed a bullish MACD crossover on the daily chart, the price rose by more than 10% thereafter.
What about the chart 📊
BETA had a huge pump of more than 100%, which catapulted the token back to its resistance at 0.09. Once this resistance breaks, the token can quickly rally towards 0.12.
Potential & Approach 💰
The signal is calculated with an 80% profit potential (~0.16). Therefore, a reasonable approach is to set a first take-profit target at the 0.12 resistance and the second at 0.16.
