Technical analysis by ben_walther about Symbol BETA: Buy recommendation (7/6/2024)

What Happened? 🧐 BETA dropped ~40% after its massive 170% pump. The drop was driven by people taking profits and fueled by the Bitcoin crash. Latest Performance 📊 Today, BETA does not perform as strongly as many other crypto tokens. Nevertheless, based on technical indicators, it flashed one of the most reliable signals on the 1D chart. The Signal ⚡️ The Hyper Scalper signal combines several moving averages and the ADX and scans for specific chart patterns. It is mainly used to predict a continuation after a setback. Backtest & Profit Potential 💰 Since the signal has only appeared once for BETA on the daily chart, backtests aren't reliable. However, the signal has an average reliability of 75%—85% on the daily chart. The profit potential is calculated at 83%, pointing to the 0.12 area.