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BELUSDT trade ideas

🔥 BEL back at it again ! What will happen this time?Hello, dear TradingView members. This idea is a BEL analysis. BEL pumped 24%, just like last week. If you remember, we planned two different scenarios for BEL last time, and scenario number two happened: Now that the price has gained more strength from the support level, it has pumped back to the resistance levels and crossed one. The RSI is showing overbought signals, and the price has moved above the upper Bollinger Band. What happens now? Well, this is a weakness. The price has to slow down, whether by a dump or consolidation on the previous resistance level, which might now turn into support. Scenario one: A breakout: The price will slow down, move sideways for consolidations, and after gathering enough buy volumes, it will continue to grow. Scenario two: A fake-out: After consolidations, the local resistance level will reject the price and push it down to lower levels. The Bollinger Bands are broad, and the price moves above the upper band. That is not a good sign. The Speedometer indicator shows Buy volumes on the market for BEL on a 1D interval. Let me know if you guys have any questions; I will be more than happy to help. Good luck, and thank you.
by ShawnMCR
15
BEL and the 26% pumpHello, dear TradingView members. This idea is a BEL analysis. Today BELUSDT made a 26% pump. Before we FOMO and buy or sell, let's see what possible scenarios. RSI is also above 83, which shows overbought signals. Usually, when this happens, the price pulls back down. Scenario one: A breakout (Not likely to happen): If that bullish candle closes above this area, it can later perform a pullback and make it a breakout confirmation. Scenario two: A fake-out: The price might go even higher but then lose strength after hitting one or two resistance levels and fall back to the previous support area. The Bollinger Bands are opening and making a wide channel, and the price is pushing higher than the upper band. Now, this mostly shows overbought signals, which aren't healthy. This might cause weakness in future hours. The Speedometer indicator shows Buy volumes on the market for BEL on a 1D interval. Let me know if you guys have any questions; I will be more than happy to help. Good luck, and thank you.
by ShawnMCR
23
BELUSDT (Bella Protocol) Daily tf Range Updated till 30-5-22BELUSDT (Bella Protocol) Daily timeframe range. breaking a alts last low never a good perk its comes with risk for future holders. but hey it got back up pretty strong over 400%+ from its recent low is no joke within not so long period of time. the range for swing setups are cool but we do need to keep the risk in mind as the more space within its level the higher risk it offers and profits, a sudden giant candle opens many doors of possibilities.
by cryptoforever1