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BELABTC

BEL/BTC (Bear Break?)💎Technical Analysis Summary💎 BINANCE: BELBTC -BEL broke the major support at the 2100s sat range -I recommend reducing the risk or close Buy positions -Because there is no valid strong support until 7k sat area -I don't advice to catch a falling knife here -Wait for price discover or reversal signals `````````````````````````````````````````````` Trading Involves High Risk Not Financial Advice Please Exercise Risk Management `````````````````````````````````````````````` If You Like My Daily Published Ideas A little Help By Supporting My Channel Through Leaving A Thumbs Up, Comment & Follow Happy Trading! --> Thank You! :) ``````````````````````````````````````````````
by PolarHusk
4
Poloniex : BELA DROP my dear friend DROP!Bela broke way high above what any one would expect, at the peak of it's pump, the volume was total of 2000 BTC , now? only 25 BTC as the volume . There is no way in hell that this market can hold up and it will drop, at least to the 23.6% retrace, but, there is a small support line bellow that retrace that many people may ignore. My personal observation of alt coins being pumped is that many many times, they break bellow the 23.6 target and many people wonder what stops the market from hitting the 0 retrace. That my dear friends is this small support lines. supports that most of the time, because of the huge spike on the price, we ignore but if you observe carefully, you will see that is a little bit above the old time high price and it is possible that it can stop the down fall of this market's price at that target. For time being, this coin will bleed !
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by CAB_Member
Where next for BELA?Introduction - What is BELA? Belacoin (BELA) is a crypto-currency token that considerably interests me just now because it currently has real-world application in the form of a chess game - Bellachess - which is available to download from the Google Play Appstore, and pays out BELA when you win a game. The development team also have the intention to integrate the currency into any number of future projects, the most important to-date is the (still under development) photo sharing App - BelaCam. Which will pay users when people Like their photo uploads. You can read more about both projects here - www.belacoin.org It doesn't take much imagination to see how profoundly important and potentially profitable the BelaCam application in particular could be for investors/holders of Belacoin when we look at the user base of popular applications such as Instagram and SnapChat, and exactly how much they are valued at. Alongside these platforms, Facebook and Twitter are also still heavily image-sharing based. What separates BelaCam from all of these platforms is the use of blockchain technology and payment to users for sharing their content. That is the 'unique selling point', and 'killer-app' if you will which could help spur rapid adoption and thus an increase in BELA value. BELA Price Rise Between the 21st and 25th of February the price of BELA climbed rapidly from 0.00002688 up to 0.00006889 - a 256% increase in value, and a new all time high. The main reason for the rise can be attributed to online posts from the development team that: (1.) Closed Alpha testing was underway, (2.) Screenshots of the product would be soon made available / marketing blitz, (3.) Listing on Bittrex had been officially applied for. So far, it looks like the price was pumped up on this hype into a bubble, which has subsequently burst. We can see by looking at the attached chart that the price is now working its way down through a Fibonacci retracement (78,6%... 61.8%... 50%?...). Support Line A We've seen a bounce off Support Line A, not falling quite as far as 50%, and returning to the 61.8% level. We need to watch this area closely for an indication of whether the retracement will further continue downwards. We are currently seeing a tug of war at this area. This will likely be guided over the next couple of days as the hype and release of marketing material hits social media. A successful marketing campaign should help keep the price above this level. So could a slip in Bitcoin price. Support Line B The next significant key area we should be looking at for the possibility of a bounce is at the 50% mark. This currently looks like the most likely area that we'll see a turnaround if support at 61.8% fails, with a likely bottom of Support Line B. Firstly, we could see prices drop to this area if the marketing material doesn't live up to the hype, secondly we could witness the effects of "buy on rumour, sell on news", lastly, we could see some continued pressure from the rise in Bitcoin price. Support Line C There is also the possibility that factors mentioned above could put exceptionally heavy pressure on BELA. In which case a drop to find a bottom at Support Line C - which is the long-term support line remains, though currently unlikely, a possibility.
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by CryptoCoinNomad
3