🔥 BEL/USDT Strong Daily Price Action: Channel AnalysisBEL/USDT has been showing an increase in volume and volatility over the last couple of days. With yesterday's 30% candle, I think there is more room for short term gains for this pair.
I'd advise waiting until the price has corrected a bit. The $2 area seems like an excellent buying opportunity.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows and round numbers. Do your own due diligence.
Happy trading!
BEL
BELUSDTBEL is in strong bullish position as you can see it took only half time to rise than to dip means the bullish power is stronger in that time and can move the trend faster
the bullish power took 13 candles to get A to B
but the bearish took 26 candles to dip from B to A
bias in the micro wave of the trend = bullish
but other scales of the chart also shown a strong bullish in price action so this crypto can be good for investment but dont forget to add stop loss (red line)to it
BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?
BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?
BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?BEL IN COSOLIDTION SEEMS LIKE ACCULULATION OR DISTRIBUTION WAIT AND WATCH?
BEL Price action BEL seems to come out of box along with making a reverse head and shoulder pattern. Trade with targets of upto 170 , keeping stop loss at level of right shoulder i.e. around 88. The company also seems to improve fundamentally with healthy dividend payout , almost debt free and increased cash flow and assets.
BELUSDT - Potential sell entry 🔽BELUSDT is printing a descending channel on the 4H timeframe.
Price is testing the channel resistance.
Potential breakdown.
Sell entry ⬇️ - breakdown below the minor pullback channel support.
Target 🎯 - Support level, descending channel support.
Setup invalidation ❌ - breakout above the descending channel resistance.
BEL- CMP 114.9BEL- CMP 114.9 - BEL is trading in ascending channel pattern. It has fallen recently from upper end of the channel and taken support at bottom of the channel and is going towards upper end of channel. It can go up to 123 initially and can further move up to 130 levels soon can buy with a sl of 109. This is for educational purpose only and if any trade is done shall be with the advice of financial experts.
BEL/USDT Broke Major Trend Line: Bearish OutlookBEL/USDT has seen some crazy growth over the last few weeks. Sadly, it seems this growth has come to a halt.
Yesterday, the pair managed to break through the trend line, signaling a strong bearish movement.
Consider Support 1 and Support 2 as potential areas of reversal. Do your own DD.
BEL breakout on Weekly ChartNSE:BEL
BEL on weekly chart finally seems to be given valid breakout to major level of 118. Which looks good for short term and well as swing traders.
BEL on week of 7th December 2020 had already try to give breakout to the same level but it had face solid rejection there, after closing of the last week (14th December 2020) I can say that the supply which cause the rejection we are seeing on 7th December candle was actually absorb by the bulls and the result of the same is last weeks bullish closing which also manage to close above 118.
Do note level of 85 is become strong support for this counter for future trend and next resistance for BEL if 178 which actual a lifetime high for now and as per current trend of BEL its looks like its about to make new lifetime high.
BELUSDT completing Shark move | A good long opportunityOn the small time period 1 hour chart , the price action of Bella Protocol (BEL) is completing final leg of Shark and soon it will be reached in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Shark formation can be as below:
Potential reversal or buying zone: $1.2332 to $1.2174
Fibonacci projection or sell zone: $1.2511 to $1.2872
Stop Loss:
The potential reversal zone area that is up to $1.2174 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 5.7% and as per the above-mentioned stop loss, the loss possibility is 1.3 %.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
BELUSDT - Potential buy entry 🔼BELUSDT is printing an ascending triangle pattern on the 4H timeframe.
Price is testing the pattern's inclined support.
RSI is printing a bullish divergence signal.
Price action is printing a falling (bullish) flag pattern at the support.
Buy entry ⬆️ - breakout above the falling flag resistance + previous swing high.
Target 🎯 - Resistance levels
Setup invalidation ❌ - breakdown below the ascending triangle inclined support.