Aavebtclong
$AAVE $BTC | LONG - Watch The RetestHave has been one of the altcoins that has show strength versus Bitcoin during it's rally. Key moment here. Simply watching and waiting for a health retest. Healthy would be a strong rejection to the upside ideally forming a new higher high. Weak break below doesn't mean we wont see AAVE perform however one should be cautious as it will be heading towards the POC where price can tend to trend towards. A break below the POC and greatest area HV nodes on the volume profile will be a sign of weakness and likely setting a new low. Strong break of the support line means we're more likely to see this scenario.
Be patient. No need to rush these trades.
Lots of opportunities in these markets and there will be lots more in the future.
AAVEBTC completing final leg of bullish Shark | Upto 205% moveOn daily time period chart, the price action of Aave (AAVE) is completing the final leg of bullish Shark and soon it will be entered in the potential reversal zone. At this time price action is breaking down 100 SMA and on breaking down 200 SMA this move will be confirmed.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Shark pattern should be as below:
Potential reversal or buying zone: 0.002075 to 0.001375 btc
Sell or Fibonacci projection zone: 0.002741 to 0.004201 btc
Stop Loss:
The potential reversal zone area that is up to 0.001375 btc can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 205% and as per the above-mentioned stop loss, the loss possibility is 33.8%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.