AXS after breakout has been trading in a bullish trend .
The price has now been trading in a symmetrical triangle.
The price has bee converging.
Currently the price is trading at higher side of triangle.
Now bulls need to break above the triangle.
Manage your trades accordingly.
Hey Traders!
Let's take a look at AXS/USDT pair here. After having a break of structure price of AXS went for a another attempt to breakout from that triangle formation. Currently we are waiting for cleaner breakout from current levels in order to have a nice bullish movement towards "weak high" zone
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Whichever way you look at this it seems to have broken upwards after some consolidation.
AXS has certainly been popular in the past and had a strong run up in this mini cycle.
Targeting the upper fib levels wth profit taking around the $18.8 mark
Axie has been in a bear market since peaking in Nov 21 and is now currently testing the bear market trendline that has been a major resistance level for sometime now.
My idea is with many cryptos rallying in price its highly probable that Axie can breakout of the downward trendline its currently up against. If a breakout does occur there is a strong possibility...
AXS is currently closing in on the bear market resistance line, which has been holding since November 2021.
With the whole market going up rapidly, I think it's to be expected that AXS will soon break through this resistance. Be patient for the break.
Targets in blue.
Formed Descending Broadening In H4 timeframe ( bulish Reversal Pattern)
Incase Of Breakout expecting 20 to 25% Bulish Move
Keep In Mind Axs Will Remain Bearish Till Wedge breakout (entry Will Be Only Valid after Breakout)
AXSUSDT has been trading with in a descending triangle .
The price has been converged.
Now the price has trading above the breakout of triangle.
The same zone is also a breakout zone.
The bulls need to hold the breakout zone.
Manage your trades accordingly.
