AAVEUSDT Correction ?
AAVE was a successful trade that I personally took .
By looking at the chart and the FIB level it touched , I will be expecting a retracement or a small correction in order for it continue going up . Just keep in mind , that in case AAVE decouples from the general crypto market like it had done in the past , it could just keep going up .
In my opinion , I am in favor of having a retracement before going further up around $188 or even $175 which was the downtrend breakout .
In addition , is also important to note that a violent breakout of BTC to the upside or a retracement could just move AAVE and other ALTS violently up or down , at this point I believe everyone needs to be cautious .
By saying this personally I would be waiting for AAVE to break this level and test it as support before re entering a position or waiting for the retracement and longing or buying spot at the local bottom after the correction .
By looking at the chart and the FIB level it touched , I will be expecting a retracement or a small correction in order for it continue going up . Just keep in mind , that in case AAVE decouples from the general crypto market like it had done in the past , it could just keep going up .
In my opinion , I am in favor of having a retracement before going further up around $188 or even $175 which was the downtrend breakout .
In addition , is also important to note that a violent breakout of BTC to the upside or a retracement could just move AAVE and other ALTS violently up or down , at this point I believe everyone needs to be cautious .
By saying this personally I would be waiting for AAVE to break this level and test it as support before re entering a position or waiting for the retracement and longing or buying spot at the local bottom after the correction .
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