Hello traders and speculators!
We have very nice setup not only on AAVE but on BTC & ETH as well. This means that the sell-off would be broad.
Invalidation level - clean break above $321.
Have a look at MACD (Momentum indicator) on daily as well. We have these "bumps" in momentum that are short-live and continues the trend - lower.
We haven't made real higher high on this move. It's most likely a deviation which will be confirmed once we break $304.
Short entries - $315 (Medium risk). Below $305 - low risk. Stop loss - above $327
Risk/Reward 5:1 with $315 entry.
Risk/Reward 4:1 with $305 entry
We have very nice setup not only on AAVE but on BTC & ETH as well. This means that the sell-off would be broad.
Invalidation level - clean break above $321.
Have a look at MACD (Momentum indicator) on daily as well. We have these "bumps" in momentum that are short-live and continues the trend - lower.
We haven't made real higher high on this move. It's most likely a deviation which will be confirmed once we break $304.
Short entries - $315 (Medium risk). Below $305 - low risk. Stop loss - above $327
Risk/Reward 5:1 with $315 entry.
Risk/Reward 4:1 with $305 entry
We might slowly climb back above that 304 S/R zone, did not sell of with confidence, we need more time to digest what's next