🚨 Quick update on $BEAT – it's in a straight-up downtrend, no sugarcoating it, with sellers calling the shots after that nasty drop.
Volume's been cranking on the way down, hitting peaks like 22.9M during those breakdowns, but the latest candle's way quieter at 791k, which makes me think the selling might be petering out a bit.
Fund flows aren't pretty either: big outflows over 4h (-29.4M), 6h (-14.7M), 12h (-25.3M) screaming institutional dumps, though those tiny inflows in 30m and 1h hint at maybe some steadying short-term.
Price action's textbook bearish – crashed from that 3.09 high with lower highs and lows all the way. Sitting near the 24h low of 1.6634 now, but there's a little rebound flickering. Those fat red candles with high volume showed real pressure, while these recent small ones could mean it's easing up.
Leaning cautious short $BEAT here, but with super tight risk – oversold means bounces can sting.
I'd wait for a pullback to 1.95-2.05 resistance for a solid entry spot.
Stop 3-4% above, around 2.10-2.15.
Targets $BEAT down to 1.68-1.70 for 7-10% drop.
⛔ Watch out though: It's crazy oversold, so volatility's high – size down and keep an eye on lower timeframes for any bullish divergences signaling a flip. You seeing the same on BEAT or thinking rebound?
#beat #BEATUSDT #Audiera