BEL / TetherUSLong
Is BELUSDT on the Verge of a Bullish Breakout?
Yello, Paradisers! BELUSDT is showing bullish signals with a clear Change of Character (CHoCH) and Break of Structure (BOS). Currently, it's approaching a significant resistance trendline and has formed W pattern, both of which heighten the chances of a bullish move.
💎If BELUSDT breaks above the resistance trendline and zone, closing a candle above these levels, it would confirm the W pattern. This would significantly increase the probability of a sustained bullish movement.
💎If we see a retracement, we expect support to hold, potentially providing a bounce. However, to strengthen the bullish case, we'll be watching closely for a bullish Internal CHoCH (I-CHoCH) in this zone.
💎However, If BELUSDT breaks down and closes a candle below the support zone, our bullish outlook would be invalidated. In this case, it would be wiser to wait for a more favorable price structure to emerge before making any moves.
Patience and discipline are essential here. Watch for confirmation signals at these levels, and remember that waiting for the right price action can make all the difference between success and failure in this market.
MyCryptoParadise
iFeel the success🌴
💎If BELUSDT breaks above the resistance trendline and zone, closing a candle above these levels, it would confirm the W pattern. This would significantly increase the probability of a sustained bullish movement.
💎If we see a retracement, we expect support to hold, potentially providing a bounce. However, to strengthen the bullish case, we'll be watching closely for a bullish Internal CHoCH (I-CHoCH) in this zone.
💎However, If BELUSDT breaks down and closes a candle below the support zone, our bullish outlook would be invalidated. In this case, it would be wiser to wait for a more favorable price structure to emerge before making any moves.
Patience and discipline are essential here. Watch for confirmation signals at these levels, and remember that waiting for the right price action can make all the difference between success and failure in this market.
MyCryptoParadise
iFeel the success🌴
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.