AXS tried to break the resistant top line of the wedge forming before but couldn't keep moving up
and failed. so this time if the 4h timeframe candle can manage to close above the line and BTC
holds too then we can expect a nice and decent upward pressure.
support and resistant targets are on the chart.
Enjoy the market
AXS has been trading in the $120-$140 range for quite some time. Additionally, it is worth noting that a narrowing of the trading range is taking place. It means that a strong momentum is coming and it is likely to be upward. A good buying opportunity would be a squeeze and a breakout.
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Everything on the chart.
open pos: market and lower
target: 160 - 200 - 230
after first target reached move ur stop to breakeven
stop: ~105(depending of ur risk). ALWAYS follow ur RM .
risk/reward 1 to 4
Good luck everyone!
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AXS/USDT (2h) formed a symmetric triangle (continuation pattern). The price broke out of the formation and is testing the key level (129.9) and the orange trendline as support. If we see a bounce from here than it's super bullish. If not, the price will most likely dive deeper back down into the formation to find a support level.
I expect AXS in a major corrective move here before continued upside to ATH, a correction as low as .382 fib then a small relief to the .618fib and falling as low as the .236 fib and targeting the 1.618 ,at around 220$ but not until this correction is over AXS has corrected as such after every leg up. i am currently Short AXS. good luck traders.
the red crosshair is current price the green is where I think if a green candle was to close above that line with no wick on top would be a trigger signal to get in.
the white path is the first time it repeated this move
the dotted is the second and most recent time it repeated this move
the red cloud is your resistance area
the green is showing signs of another...