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The name of the token and introduction of the project. Technical background of the project and the team in charge of the project. In which exchange or exchange can you trade?

The Bel Token

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The bel token is known to be an ERC token which is secured by an Ethereum Network. The bel is a native token for the Bella Protocol platform which is known to be a suite of DeFi products particularly designed in making crypto banking simpler and accessible as well.

Image Source

The Bella Protocol was launch in September 2020. One interesting fact of the bel token is that it was the first token which distributed using the Binance launch pool platform. This actually increased the legidity in the investment in the token.

The main founders of the bella protocol are Felix Xu and Yemu Xu in the year 2020. The CEO of the Bella Protocol therefore remains Felix Xu.

The main aspects that makes the platform unique is for the fact that it include;

• Bella liquidity mining
• One click smart portal in deploying assers with zero fas fee
• They provide lending
• DeFi Product
• And Robo advisor

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Platforms to trade bel token

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We can trade the bel token on various platforms including. Binance, coinex, bithumb and ftx. We can see the vaious pairs which include belusdt, belbnb, belbtc, belbusd and many others.

^{screenshot from tradingview.com}

Why are you bullish on this token today? And how long do you think it will increase?

Why I am bullish about Bel

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The bel token has a current price of $0.89 with a market capitalization of $42.913 million making a rank of #572 on the coinmarketcap.
It has a current circulating supply of 48 million bels and all time high of $10.03.

^{screenshot from coinmarketcap.com}

With all this analysis, it is quite evident that the bel token will one touch its all-time high again which is $10 which is about 4X its initial price. With this, it is certain by end of 2024, the all-time high level must have been broken.

How to analyse the token for an operation? You must obligatorily use methods and analysis learned in the Crypto Academy.

Buying the BELUSDT

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I will perform a technical analysis on the bel token using the break retest strategy and a confirmation with the stochastic indicator. Beginning by explaining the strategy before going to the entry and the exit of the token, the break retest strategy happens when we have the break of a resistance level in an uptrend and finally having a retest on that level making the resistance level to turn to a support level. And in a downtrend, we have the break of a support level and the prices finally retesting on the support level making it turn to a resistance level.

The confirmation is done using the stochastic indicator as we identify overbought and oversold levels when the prices crosses the 80 and the 20 level for a sell and buy order respectively.

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Trade Entry

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The trade entry will be done by first identifying the trend. In this case, the trend here is an uptrend. After this identification, we then proceed by identifying the resistance level and a line is drawn. With the break of this level, we take a buy order as the price turns and retest on the level.
The confirmation is done with the stochastic indicator as we locate an oversold point indicating a buy order.

^{screenshot from tradingview.com}

^{screenshot from tradingview.com}

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Trade Exit

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The trade exit is about setting proper stop loss and takes profit levels. The stop loss level will be set some few pips below the retest level while the take profit to the previous swing high position.

^{screenshot from tradingview.com}

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Trade Execution

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The trade execution will be done using the #Binance Exchange with a leverage of 10X. This is shown with the screenshot below. We have a initial margin of $14 which multiplies it to $140+ with the leverage trading.

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^{screenshot from Binance}

What is your investment plan? Do you want to keep it for a long time? Or when to sell it?

My Investment plan on the Bel token

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On the fundamental analysis carried out on the bel token, it worth keeping it for long term. But well, I happen to be a short term trader. And using the 15 minute timeframe, my take profit level is set to hit in less than 4 hours as long as the markets are volatile. So I do not plan to keep it for long.

Do you recommend that all people buy it? Detail the reasons for recommending or not recommending it.

My Recommendations

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Based on the above carried out analysis, it is quite evident that the bel token is worth token is worth investing in long term. In this regards, I recommend long term investment on the bel token.