The team already said they are likely to release bullish news on Monday, so this is a pretty simple setup and aligns well with the general Elliot wave count. Price is expected to shoot up quite suddenly as retail catches FOMO, and then we can sell near the tops. This is NOT a reversal, it's a counter trend trade.
Smooth Love Potion is down-trending hard but is approaching strong demand zone and seems to be near reversal!
Risk/Reward= 1:2| 1:3.67 | 1:5.2
Expected Profit= +96.27% | +177.10% | +250.70%
Possible Loss= -48.25%
Fib. Retracement= 0.236 | 0.382 | 0.5
Estimated Gain-time= 5 months
0.00003031 - 0.00002279
SLP is a very great token to trade. We have made many idea on SLP in the past, the majority of which were correct. Today we have another idea.
SLP is in a strong downtrend and many people are scared because there is WAY too much SLP being minted every single day. The bad news is, it should go lower. It can reach as low as 0.13 before the major CORRECTIVE movement...
Recently AXS has been outperforming almost everything, including SLP. The metric of how many SLP one AXS token costs is extremely crucial for the Axie economy because it impacts the breeding fees, price of axies, and more.
So it's important to watch this metric as Axie Infinity players even if we don't trade it (not a "listed" pair). It looks ready to rise to a...
After a strong rally and ended at 0.0002
The price is now back to the average
Currently sitting at key area of confluence
If the bulls can hold this level
I'm expecting a good bounce up 0.00011
If you breed axies, now is a good time to purchase enough SLP and AXS to continue breeding into the next week. This is because we expect that the cost of the resources to breed an axie two times will increase, taking up the axie prices with it. You can also hold onto the axies you produce for a little longer in anticipation of higher prices, if you are willing to...
This is labeled as neutral because there are actually two counts for SLP now that everyone should be watching. The main thing that traders and players of Axie Infinity need to do is watch the invalidation levels for each one of them.
The one shown here, the main count for us, is the bear count. We think that the chance this count is correct is around 75% right...
I've noticed this on BINance, did skimmy (skimp) research, now know what this waste of time token this is for, gaming. After whales pumping this, volume indicative, CCI and RSI doesn't suggest 100+% gains these next day or week or so.
Although I will keep an eye on this, as a gamer (I don't play timewasting trash like this) I do expect it to increase in fiat...