Why AAVE Has Ignited a Fresh Uptrend with a 32% Surge; Last Days to Get Bitcoin ETF (BTCETF) Presale Coins

By BeInCrypto December 16, 2023 In Aave, Bitcoin, DeFi

Decentralized finance (DeFi) lending protocol AAVE saw its token price surge 17% on Friday to around $113 – its highest level so far in 2023. This latest move extends AAVE’s strong upside momentum as analysts identify bullish chart patterns and the crypto community gears up for a potential resurgence in DeFi.

We will analyze recent price action for the AAVE token before shifting focus to the ongoing presale for the Bitcoin ETF (BTCETF) token which offers traders speculative exposure to the impending SEC approval of a spot Bitcoin ETF.

AAVE Soars to Yearly High – $115 Resistance is Next

AAVE is currently trading in a clear uptrend. After briefly consolidating in a bullish flag pattern, the price broke out with further upside potential toward the $115 level next.

A bullish flag pattern consists of a short-term rectangular trading range between two parallel diagonal lines that runs counter to the prevailing longer-term price trend. This pattern often forms after a sharp advance and signals a minor pause or consolidation before the prior trend resumes.


As one of the most reliable continuation patterns for traders, a bullish flag setup provides an opportunity to enter an existing trend as it prepares to continue. Trades are initiated when the price breaks out in the same direction as the overall trend. Volume increase on breakout is preferred but not required for bullish flags.

Rekt Capital, a prominent crypto analyst with over 350,000 Twitter followers, commented on AAVE’s bullish price activity:

“AAVE has recently broken out from its Re-Accumulation period. Now up +32% since the retest and finally reached the $111 resistance (orange), following the path perfectly.”

Here, Rekt Capital is referring to AAVE’s consolidation pattern that allowed the price to establish a base before breaking out upwards. This successful retest of prior resistance at $111 after breaking a downtrend signals a potential new uptrend underway.

Similarly, crypto analyst Bluntz told his 200,000+ Twitter followers:

“Starting to look like DeFi might make a resurgence soon. $AAVE looks amazing to me, especially its btc pair, nice 12h bull div, high timeframe accumulation and 5 waves within the C. This is such an easy long imo its like taking candy from a baby.”

Bluntz points to a bullish divergence on the 12-hour chart, suggesting strengthening upside momentum. He also identifies a larger-scale accumulation pattern and completion of an impulsive five-wave elliptical pattern. Together, these signals lead him to believe AAVE presents an obvious long trade with little risk.

Adding further optimism, the AAVE community recently voted unanimously to activate Aave Governance V3. This upgrade enables migration to an improved decentralized governance system that will control the entire AAVE ecosystem.

With the new v3 model, all required smart contract upgrades will execute to optimize governance operations. The vote also activated Aave’s Robot systems to ensure smooth functioning of the new Governance V3 model.

Bitcoin ETF Token Presale Builds FOMO Before Spot ETF Approval

As anticipation continues mounting around a potential spot bitcoin exchange-traded fund (ETF) approval in the US, interest is accelerating in the Bitcoin ETF Token (BTCETF) – currently in the final stage of its presale event.

The $BTCETF coin offers traders exposure to the impending SEC approval of a spot bitcoin ETF and its subsequent launch and growth. The presale has already raised over $4 million toward its $5 million hard cap, which at the current pace could finish within days.

Industry experts widely expect a spot bitcoin ETF approval to unlock trillions in institutional investment and profoundly impact bitcoin’s market and price. As traders seek ways to benefit from this approaching catalyst, projects like $BTCETF provide specialized exposure by linking token supply directly to real-world ETF approval milestones.

As various approval and adoption metrics are achieved, $BTCETF’s supply will burn in response:

  • 5% burn when $BTCETF trading volume hits $100 million
  • 5% burn when SEC approves first spot bitcoin ETF
  • 5% burn when first spot bitcoin ETF launches in US
  • 5% burn when spot bitcoin ETF assets under management exceed $1 billion
  • 5% burn when bitcoin price closes above $100K

Additionally, every milestone trigger reduces an incremental tax on $BTCETF sales by 1% until 0%. This tax design incentivizes holding by making selling comparatively more expensive in earlier phases.

Visit BTCETF Presale Now

Between milestone-triggered burns and tax reductions, $BTCETF incorporates deflationary mechanisms directly linked to the real-world progress around a spot bitcoin ETF. Investors are betting this clear path to decreasing supply amidst increasing demand could propel $BTCETF to 100x gains or more.

As crypto educator Austin Hilton explained to his 239,000 YouTube subscribers:

“BTCETF is like nothing you have ever seen before…very cool milestone burn mechanism”.

For latecomers struggling to buy-in after the presale, obtaining BTCETF tokens on the open market looks set to become very difficult as overall supply constricts from burns and staking locks while demand accelerates. Hence, seasoned traders recommend positioning in BTCETF now before take-off upon the impending spot bitcoin ETF launch


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Published on


View the full article

You may also like