🔥 AAVE Bearish Triangle Idea

AAVE has, like most other cryptos, been steadily declining over the last week. In this process, a bearish triangle has formed. This trade is based on the idea that AAVE is slowly falling for now, but might actually see a strong sell-off if Bitcoin has a (very) bad day.

Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of support, S1 and S2. These areas are based on recent swing lows and round numbers. Do your own due diligence.

Happy trading!