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Coinpedia-Market-Insight
Aug 30, 2021 10:12 AM

Axie infinity analysis in 4H time frame 

AXS / TetherUSBinance

Description

* AXS is in a clear healthy uptrend moving in a expanding channel forming higher-highs and higher-lows.
* Expanding channel appears when the price moves between two broadening trend-lines with narrow opening and broad closing, here the lower trend-line works as support for the price and upper trend-line as resistance.
* Every time the price test the lower trend-line (support) it bounces back up forming a new higher-high.
* Currently the price in consolidation on it's support and facing a resistance near $80.50, in order to continue the bull run AXS needs break the above resistance.
* AXS is bearish below the support.
Comments
Saelnes
Do we see a Fakeout, or do we see a correction incoming?
Coinpedia-Market-Insight
@Saelnes, It is just a fakeout with low volume
Saelnes
@CoinPedia_Market_Insight,

If so, we are loading the chambers with BUY orders and setting FIRE at SL line = abit under 67 and TP = 0,9 under upward trendline!
Coinpedia-Market-Insight
@Saelnes, let it re-enter it's support zone
Saelnes
@CoinPedia_Market_Insight,

Of course.
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