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BEL / TetherUS

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BELUSDT trade ideas

BEL Analysis 09/03/2021we had our Past 3 TPs Achieved and now updating the New Positions. as you can see it has done its accumulation phase and is ready for Move Up again. there exist a Hidden Bullish Divergence which is the sign of trend continuation there are total of 4 TPs Specified with Fibonacci Projection of the Previous impulsive wave. we get our 3 TP conformation if the 2TP gets triggered by an impulsive wave directly and price does some corrections post it.
Long
by BitonGroup
15
BEL: A Comprehensive 4-hour Frame Technical AnalysisHello Traders, Today's focus is on BEL, a prominent member of the crypto market. At this moment, BEL's market price stands at 0.8777. Vital Technical Indicators An examination of BEL reveals several key insights: Relative Strength Index (RSI) and Stochastic: The RSI is at 69, and the stochastic is at 71. These figures, being close to the overbought threshold, suggest that BEL might be overbought and due for a potential correction. Bollinger Bands: The current price of BEL lies between the middle (0.7902) and upper (0.9017) Bollinger bands. The lower band is at 0.6788. The proximity to the upper band may suggest an overbought market condition. Volume Oscillator: The volume oscillator stands at 8.47%, showing a slight increase in buying volume. MACD: The MACD value is positive at 0.0383, suggesting a possible bullish momentum. However, this bullishness might be questioned, given the high RSI and stochastic values. Fibonacci Levels: The Fibonacci levels for the 4-hour timeframe stand at 0.7053 (1 Fibonacci), 0.7601 (0.5 Fibonacci), and 0.8149 (0 Fibonacci). These levels could act as potential support or resistance points. Support and Resistance: There's a support area at 0.8493 and two resistance levels at 0.9253 (local) and 1.0194 (solid). Traders should watch these levels closely. EMA 100: The 100-period Exponential Moving Average (EMA) is at 0.7242, which is below the current price, serving as a dynamic support level. Closing Remarks Given these indicators, traders are advised to closely monitor BEL for potential trading opportunities. The interplay between price action and these technical indicators may provide insights into the future market trends of BEL. As always, trading is subject to risk. Perform your own research and consider your risk tolerance before making any trading decisions. Stay tuned for more updates on BEL and other digital currencies. Happy trading!
by ShawnMCR
10
BELUSDT → Triangle breakout and retest of trend resistance BELUSDT shows chic bullish dynamics on the background of red falling bitcoin. BEL is currently one of the few coins that feels good enough for the medium term. In the background of the bearish wedge, the price makes numerous retests to the trend resistance and at the same time the cryptocurrency pair begins to form a consolidation, which takes the shape of the pattern "Triangle". We observe a triangle breakout and another retest of wedge resistance. If the price manages to break the boundary, BEL / Tether will show great growth of 60% and 120% respectively! The moving averages act as support, the price is in the risk zone between the two key boundaries. Triangle pattern realization is forming. Strong support: earlier broken resistance of the pattern; support 0.6580 Strong resistance: downward wedge resistance, 0.8284 I expect that the bulls will be able to consolidate above the triangle and finally break the wedge resistance with the subsequent growth to 1.2790 and to 1.7676 Regards R. Linda!
Long
by RLinda
14