Get ready for some potential fireworks with AAVEUSDT! 🎇🚀💎 Paradisers, #AAVE has taken liquidity by breaking below a previous low, which served as a demand level for a while. Now, a bullish move is possible, but we need confirmation.
💎 #AAVEUSDT may bounce from here, as it has formed a double bottom structure accompanied by a dragonfly candlestick pattern, increasing the probability of an upward move.
💎 Nonetheless, I would prefer to observe a Change of Character (CHoCH) towards a bullish market structure in lower timeframes for confirmation.
💎 If the price breaks above the resistance level, we can anticipate a bullish move from there, possibly triggering stop losses of bears who entered on the breakdown of previous lows. Additionally, there is a gap above that could potentially be filled.
💎 However, if the price breaks down below the demand zone, it will invalidate the bullish structure, and in that case, it would be best to wait for better price action to develop.
