Hello traders 🐺 .
sometimes if you look at the chart deeply and with the enough precision , you are able to find very trade able patterns and make money out of them ; so this time it's BAL turn and I want to show you the possible upcoming trade , so stick with me until the very end and make sure to follow me for more support 🐺🙏 .
Let's start with the 3D chart to give you the overall view for the BAL situation and then we will go to the hourly chart to see the possible trade and the best entry point for the long position :
in the 3 days chart , we can see that previously when for the first time , BAL price rejected from the weekly resistance structure (red box) , BAL was started to retracement to the 8.3$ and during that retracement , BAL created a very clear descending channel , and currently we have the same thing again 🤔🤯 , if you look at the chart with more attention you will see that after the rejection from the weekly resistance structure or if I want to say clearly , when BAL failed to hold above the weekly support , comes down more and more ; after the secondary test of that structure , bears push BAL to the lower price targets even lower than the previous low and BAL currently trade around 10$ .
but what is important for us is the formation of the same pattern something very look likes from what we had in the past , if you remember I said in the beginning of the idea , BAL created the descending channel for the first time after the rejection from the weekly resistance , and now we have the almost same thing , but this time we have the falling wedge , which is the bullishly bias pattern , and in my opinion there is very strong chance for the BAL to repeat the history again and goes up to the ATH price 🐺🤯 .
Also if you look at the RSI value , you will see that in the RSI , we have the falling pattern again and in my opinion when RSI could break the resistance level , that would be a nice buy opportunity for the BAL .
let's goes to the 4H chart :
in the 4H chart BAL created a ascending triangle pattern which is also a bullish pattern , also price currently is at the support line so if price can goes above the 4H triangle there is strong chance for testing the upper trend line of the falling wedge .
Thank you guys for reading my idea , also don't forget to like my ideas and follow me for more support🙏 .
sometimes if you look at the chart deeply and with the enough precision , you are able to find very trade able patterns and make money out of them ; so this time it's BAL turn and I want to show you the possible upcoming trade , so stick with me until the very end and make sure to follow me for more support 🐺🙏 .
Let's start with the 3D chart to give you the overall view for the BAL situation and then we will go to the hourly chart to see the possible trade and the best entry point for the long position :
in the 3 days chart , we can see that previously when for the first time , BAL price rejected from the weekly resistance structure (red box) , BAL was started to retracement to the 8.3$ and during that retracement , BAL created a very clear descending channel , and currently we have the same thing again 🤔🤯 , if you look at the chart with more attention you will see that after the rejection from the weekly resistance structure or if I want to say clearly , when BAL failed to hold above the weekly support , comes down more and more ; after the secondary test of that structure , bears push BAL to the lower price targets even lower than the previous low and BAL currently trade around 10$ .
but what is important for us is the formation of the same pattern something very look likes from what we had in the past , if you remember I said in the beginning of the idea , BAL created the descending channel for the first time after the rejection from the weekly resistance , and now we have the almost same thing , but this time we have the falling wedge , which is the bullishly bias pattern , and in my opinion there is very strong chance for the BAL to repeat the history again and goes up to the ATH price 🐺🤯 .
Also if you look at the RSI value , you will see that in the RSI , we have the falling pattern again and in my opinion when RSI could break the resistance level , that would be a nice buy opportunity for the BAL .
let's goes to the 4H chart :
in the 4H chart BAL created a ascending triangle pattern which is also a bullish pattern , also price currently is at the support line so if price can goes above the 4H triangle there is strong chance for testing the upper trend line of the falling wedge .
Thank you guys for reading my idea , also don't forget to like my ideas and follow me for more support🙏 .