Aavebtc
AAVE/USDT Forming Inverse Head & Shoulder Pattern-AAVE/USDT forming Inverse Head & Shoulder Pattern on 30-60 Min Timeframe.
- Right shoulder forming as triangle ( which shows consolidation below the resistance in triangle)
- Will open a long position on triangle breakout and add more once it breaks the neckline of Inverse Head & Shoulder Pattern.
- Expecting a move towards 160-170 (Height of triangle)
- Stop Loss below 124, will move SL to entry once it breaks out from Neckline and retest it as a support.
💡Don't miss the great buy opportunity in AAVEBTCTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.003130).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AAVE/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 52.
Take Profits:
TP1= @ 0.004000
TP2= @ 0.004520
TP3= @ 0.004950
TP4= @ 0.005570
TP5= @ 0.006320
TP6= @ 0.007570
SL= Break below S2
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