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Balusdtshort

BAL possible correction incomingBAL had been trying hard to break the key demand area after successfully making cup and handle pattern, though the bulls failed to keep BAL above key level area and the trendline support which has been held since 21st July has been broken downward along with printing of first LL after a long time. It would be safe to assume that after a strong upward rally, BAL is heading for correction now. My target would be that yellow rectangle area as it is where Golden Pocket lies as well.
Short
by syedhamza2135
1
BALUSDT Going to pullback to ATH? 🤔Hello Traders. I hope you are having a fantastic day. Today I want to share my thoughts on BAL. Well, price was moving in a channel for about 3 months and now as you can see on the chart, momentum of the bull run was getting weak ( yellow arrow ) and each time price was creating a weaker high compare to the last high. So the price was expected to fall. Now it has broken the support level and has made a pullback on shorter timeframes and has gotten rejected. Also the negative divergence in RSI was obvious. Another reason for me that price can go lower is that it has lost the 50 MA and 100 MA support on daily and if the daily candle closes below 100 MA ( green line) then it is likely that the price is going to touch the 200 MA ( blue line ). Also in the daily, price has lost the ichimoku cloud`s support. Also the volume is not noticeable in this area. So in my opinion, when the daily candle closes and if it closes below the 100 MA and also below the support level of the channel, then you can open a short position here. Targets can be 44$ and then 40$. Stop loss if the daily candle closes above the support line and 100 MA. 🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades. 🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders. If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis. Thank you guys for reading my idea on BAL and don`t forget to comment what you think. ✌
Short
by Existansilon
BALUSDT- BUY CHRISTMAS RALLYPreconditions: -break out trend line -head and shoulders - R/R 1/5 You will learn the best place where we can trade this instrument at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade.
Long
by Yuriy_Bishko
3
BAL/USDT Potential double bottom in formationBAL/USDT the price recently lost Local support in 13$ area Next area of concern is 9-8$ Here i can expect bulls start to enter to save this area But still not for buying except we see good bullish signs there If bulls saved next area from further drop it will be a good potential double bottom but take care because if next area failed to rebounce the price it will drop in parabolic move try to find new discovery bottom Good luck and happy trading for you all 🌹
by Babenski