BELUSDT → Moving into the realization phase of consolidation

Sep 6, 2023BELUSDT feel better than the same BTCUSD which is preparing to fall. The weak market and red bitcoin speaks volumes, but at the same time there are coins in the market that can show good potential

On the BELUSDT chart, I pointed out the descending triangle and we see the breakdown of the main scenario and purpose of this pattern. The price is breaking the resistance and trying to form an impulse. The market is moving into the phase of realization of the accumulated potential and only 0.6894 area separates us from the distribution. If this resistance is broken, a rather active bullish impulse to 0.9000 or even to 1.2000 may be formed.
In the near term, the price may move into local consolidation between the previously broken triangle boundary and 0.6894. Another retest of the resistance may lead to its breakout and impulse. The price is testing MA-200. There may be a retest after the pullback.

Support levels: 0.6210, 0.564
Resistance levels: 0.6894, 0.7150.
I expect consolidation and retests of 0.6894. One of the next retests may lead to a breakout of this resistance, which will form an impulse to the above targets.

Regards R. Linda!