🚨 Crucial BEL Market Update 🚨
Diving straight into the heart of BEL's price action, we're at a make-or-break point:
📊 Chart Analysis: BEL's attempt to breach the mVAH was met with a strong sell-off at the historic rejection block.
💥 Key Resistance Rejected: The push above mVAH couldn't hold, signaling a high sell pressure in the zone.
📉 Back to Value: Price has retreated back into the monthly value area, indicating a possible consolidation phase.
🐂 Bulls on Defense: To maintain a bullish outlook, it's crucial for buyers to defend the weak range low.
⚠️ 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:
✅ Bullish Scenario: Holding above $1.9263 can attract more buyers, aiming for another crack at the upper levels.
❌ Bearish Scenario: Dropping below $1.9263 might accelerate losses towards critical support levels.
🤝 Engage with This Analysis!
💬 Comment below with your views: Can BEL bulls defend the fort, or is a bearish takeover imminent?
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