Market Structure & Key Levels:
Current Price & Trend:
BEL is trading at $0.9101, showing a +2.12% gain.
The price has recently broken a key support-to-resistance flip, indicating potential further upside.
Key Support & Resistance Levels:
S1 ($0.7980): A critical support zone, where buyers may step in if a pullback occurs.
S2 ($0.6036): A stronger demand zone, which previously acted as a bottom structure.
R1 ($1.1931): A major resistance zone that needs to be cleared for further bullish continuation.
R2 (Trendline Resistance): The macro resistance level, marking the long-term supply zone.
High: $1.1942 (local top).
Low: $0.4451 (historical bottom).
Technical Indicators & Market Sentiment:
🔹 Trendline Analysis:
BEL is currently trading above previous consolidation levels, signaling a potential breakout structure.
A breakout above R1 could accelerate bullish momentum toward R2 (long-term resistance).
🔹 Potential Bullish Continuation Scenario:
If BEL successfully breaks R1 ($1.19) and sustains above it, it may target $1.30-$1.50 in the short term.
A move above R2 would confirm a larger trend continuation, potentially reaching $1.75-$2.00.
🔹 Bearish Pullback Scenario:
If BEL fails to break R1, a pullback toward $0.80 (S1) is likely.
A breakdown of $0.80 could lead to a deeper correction toward $0.60 (S2).
🔹 Liquidity & Volume Analysis:
Buying volume is increasing, suggesting accumulation before a potential breakout.
A strong bullish candle closing above R1 would confirm further upside.
🔹 Market Psychology:
Traders are watching $1.20 closely as a breakout level.
A rejection at R1 could lead to a short-term correction, allowing new buyers to enter at lower levels.
Conclusion & Trading Strategy:
Given the current price structure, my trading plan involves two key scenarios:
1️⃣ Bullish Breakout Strategy:
If BEL closes above $1.20 with high volume, I will enter a long position, targeting $1.30-$1.50.
A move beyond $1.50 would open the door for $1.75-$2.00 in the mid-term.
2️⃣ Bearish Pullback & Retest:
If BEL fails to break R1, I will look for support at S1 ($0.80) before re-entering.
A breakdown below $0.80 would signal a short-term downtrend, with $0.60 as a key support.
Risk Management:
Stop-loss for longs: Below $0.85 to protect against false breakouts.
Stop-loss for shorts: Above $1.25 in case of a breakout.
Leverage approach: Conservative, as BEL is currently in a breakout phase with high volatility.
Final Thought:
BEL is at a key inflection point, where a break above $1.20 could trigger a strong bullish rally, while failure to hold current levels could lead to a pullback toward support zones. I will closely monitor volume and price action to determine the optimal trading opportunity.
Current Price & Trend:
BEL is trading at $0.9101, showing a +2.12% gain.
The price has recently broken a key support-to-resistance flip, indicating potential further upside.
Key Support & Resistance Levels:
S1 ($0.7980): A critical support zone, where buyers may step in if a pullback occurs.
S2 ($0.6036): A stronger demand zone, which previously acted as a bottom structure.
R1 ($1.1931): A major resistance zone that needs to be cleared for further bullish continuation.
R2 (Trendline Resistance): The macro resistance level, marking the long-term supply zone.
High: $1.1942 (local top).
Low: $0.4451 (historical bottom).
Technical Indicators & Market Sentiment:
🔹 Trendline Analysis:
BEL is currently trading above previous consolidation levels, signaling a potential breakout structure.
A breakout above R1 could accelerate bullish momentum toward R2 (long-term resistance).
🔹 Potential Bullish Continuation Scenario:
If BEL successfully breaks R1 ($1.19) and sustains above it, it may target $1.30-$1.50 in the short term.
A move above R2 would confirm a larger trend continuation, potentially reaching $1.75-$2.00.
🔹 Bearish Pullback Scenario:
If BEL fails to break R1, a pullback toward $0.80 (S1) is likely.
A breakdown of $0.80 could lead to a deeper correction toward $0.60 (S2).
🔹 Liquidity & Volume Analysis:
Buying volume is increasing, suggesting accumulation before a potential breakout.
A strong bullish candle closing above R1 would confirm further upside.
🔹 Market Psychology:
Traders are watching $1.20 closely as a breakout level.
A rejection at R1 could lead to a short-term correction, allowing new buyers to enter at lower levels.
Conclusion & Trading Strategy:
Given the current price structure, my trading plan involves two key scenarios:
1️⃣ Bullish Breakout Strategy:
If BEL closes above $1.20 with high volume, I will enter a long position, targeting $1.30-$1.50.
A move beyond $1.50 would open the door for $1.75-$2.00 in the mid-term.
2️⃣ Bearish Pullback & Retest:
If BEL fails to break R1, I will look for support at S1 ($0.80) before re-entering.
A breakdown below $0.80 would signal a short-term downtrend, with $0.60 as a key support.
Risk Management:
Stop-loss for longs: Below $0.85 to protect against false breakouts.
Stop-loss for shorts: Above $1.25 in case of a breakout.
Leverage approach: Conservative, as BEL is currently in a breakout phase with high volatility.
Final Thought:
BEL is at a key inflection point, where a break above $1.20 could trigger a strong bullish rally, while failure to hold current levels could lead to a pullback toward support zones. I will closely monitor volume and price action to determine the optimal trading opportunity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.