AXS is very bullish right now
After breaking out of a symmetrical triangle pattern, AXS started trading inside an upside ascending channel structure. During the recent dip, it did not bleed as hard as the other coins and it managed to close ABOVE the daily swing low which is a strong bullish sign. The dip was caught exactly at the 200 MA and at the 50% fibonacci retracement level which is another bullish sign. Before resuming an uptrend, we want price to get back inside the channel with high-volume and preferably high-momentum and confirm the bottom of the channel as support. We also might consolidate in this area for a while but if bulls are strong enough we can break out of the channel to the upside and start a nice uptrend. Bearish divergence played out but the move was very small as demand absorbed supply which is another bullish sign.
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