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BAL / TetherUS

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BALUSDT trade ideas

BAL.USDT (Y20.P5.E1).Is it time to go longHi All, While BTC does another ranging price action, the ALTs are coming into play. BAL has a nice trend formation on the 8 hrly and now is at a strong resistance. I have 2 scenarios where the resistance is broken decisively or its consolidated underneath this resistance layer. Either way, looking at the MACRO structure, the following can be observed: a) Wedge breakout confirmed ; b) Daily and 2Day indicators look like turning bullish ; c) The 8 hrly upward trend intact; d) Macro found support at the 0.5 fib level; e) Phoenix indicator in the bullish territory; + many more DAILY CHART: Note the 10 and 20 EMA acting as support and the 50 currently resistance. Bullish 3 candle setup on the daily. All the best, S.SAri
Long
by ssari
✳️Balancer/USDT (10/11) View + Trading Plan #BAL $BALBAL is on a strong recovery and the heading target is at 14$, which is a strong resistance zone and a possible reversal here, so be careful. If this zone is broken, BAL will switch to uptrend and the heading target will be 18$ or even 26$ 📈BUY- LONG - Buy close to 10-10.5$, stoploss if B 📉SELL-SHORT - Sell: 13-14$, stoploss if A - Sell: 17-18$, stoploss if A - Sell: 25-26$, stoploss if A ♻️BACK-UP - Sell close to 10-10.5$ if B, stoploss if A - Buy: 8-8.5$, stoploss if B ❓Details: Condition A : "If 1D candle closes ABOVE this zone" Condition B : "If 1D candle closes BELOW this zone"
Long
by CryptoStation
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