AAVE got Kraken and Avon news and no bid. I sell the retest
Kraken's parent Payward bought an undisclosed amount of AAVE on 5 Nov, and Aave Labs bought the Avon team on 6 Nov. AAVE flushed to 122.27 on the day of the Payward news, bounced to 131 and has not moved since. Good news and no bid. X is bullish only, all tokenization talk.
Trend: AAVE ran 85.02 (14 Aug) to 187.69 (6 Oct) and has given back 55%, with five lower weekly closes in a row (171.6, 151.9, 136.3, 134.6, 130.9). The weekly fib puts 50% at 136.35 and 61.8% at 124.24, so my range of 123 to 141 is that band. Averages: the weekly 200 (142.0), the daily 50 (140.0) and the 4H 200 (140.5) sit on top of the 141 ceiling, and the weekly 20 (122.9) and 50 (120.5) sit under the 123 floor. Eleven 4H candles on four days (28, 29 Oct, 1 and 4 Nov) wicked into 136.8 to 141 and none closed over 137.85. Volume: the 29-30 Oct flush traded 644k and 517k, every day since 130k to 390k.
Entry: a 4H candle that wicks into 136.5 to 141 and closes back under 136.5
Targets: 123 / 115 (115 needs a weekly close under 120.5)
Wrong: 4H close over 142
Skip it if a 4H candle closes under 122 first, or if BTC closes the week under 75,557.
Stop abou...