AAVE is getting ready for second leg up!

AAVE is getting ready for second leg up!

By amtraderpro | amtraderproTA | 27 Mar 2021


Hi guys! After over a month of consolidation I believe AAVE is ready to take off. There was an accumulation period of approximately six weeks where the price was trading within the limits of the rectangle that I marked on the chart. A falling triangle has been printed on the 4h chart with double bottom on its base. Usually this pattern is being broken towards upside, and I am 80% sure this will happen this time. We also observe a decrease in selling volumes which indicates that bears are giving up. Of course don't forget that globally we are in a bull market. I will be keeping an eye on this coin and if we have a successful breakout of the triangle with a good support in buying volume, I will open a long position on spot market upon the retest/confirmation of the breakout. Hope I will  get a chance and this thing doesn't fly away without me! This is a mid term trade with a potential of 70% to 120% gains. My take profit areas will be $680-700 and $890-910 per token. 

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:DISCLAIMER:

This is my trading idea. I am neither a financial advisor nor I urge you to trade my idea.

Always DoYourOwnResearch prior investing your money anywhere!

Always respect risk management!

Always respect money management!

Always make profits!

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amtraderpro
amtraderpro

Day trader, crypto investor. HODLING bags of BTC ETH DOT KSM GLQ RSR AKRO BTS AMB CHZ BNB SAND REN KEEP AXS MATIC LUNA TVK AKT PAINT TRB VET SXP ARPA NEO FET EGLD NOT FINANCIAL ADVICE #DYOR


amtraderproTA
amtraderproTA

Technical analysis of charts

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