AXS focuses on bulding a game, where you can earn money while playing. The project recently had abig runup. Right now it is consolidating and forming a rising wedge.
This is basically bearish, but because of the strong uptrend it maybe breaks to the upside. We also formed a very large rising broadening wedge, which is also basically bearish. But the downbreak target would be 45 cents and that is unrealistically. I would see the rising wedge as a trend decider. If it breaks to the upside we retest the upper line of the bigger pattern (around 500 dollars) or if we break down we retest the bottom line (around 70 dollars). I personally expect a breakdown at the end of the wedge in november and then a slow downtrend to maybe around 90 dollars. But you need to mind that everything is possible in Crypto, so both scenarios have their own probability.
Thanks for reading!
This is basically bearish, but because of the strong uptrend it maybe breaks to the upside. We also formed a very large rising broadening wedge, which is also basically bearish. But the downbreak target would be 45 cents and that is unrealistically. I would see the rising wedge as a trend decider. If it breaks to the upside we retest the upper line of the bigger pattern (around 500 dollars) or if we break down we retest the bottom line (around 70 dollars). I personally expect a breakdown at the end of the wedge in november and then a slow downtrend to maybe around 90 dollars. But you need to mind that everything is possible in Crypto, so both scenarios have their own probability.
Thanks for reading!