๐จ Crucial BEL Market Update ๐จ
Diving straight into the heart of BEL's price action, we're at a make-or-break point:
๐ Chart Analysis: BEL's attempt to breach the mVAH was met with a strong sell-off at the historic rejection block.
๐ฅ Key Resistance Rejected: The push above mVAH couldn't hold, signaling a high sell pressure in the zone.
๐ Back to Value: Price has retreated back into the monthly value area, indicating a possible consolidation phase.
๐ Bulls on Defense: To maintain a bullish outlook, it's crucial for buyers to defend the weak range low.
โ ๏ธ Bearish Warning: A failure to hold could see a slide towards the mid ($1.75) and monthly POC ($1.55).
For traders and investors, now's the time to stay alert and watch these key levels:
โ Bullish Scenario: Holding above $1.9263 can attract more buyers, aiming for another crack at the upper levels.
โ Bearish Scenario: Dropping below $1.9263 might accelerate losses towards critical support levels.
๐ค Engage with This Analysis!
๐ฌ Comment below with your views: Can BEL bulls defend the fort, or is a bearish takeover imminent?
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๐ก Tip if you're making profitable moves based on these updates!
