AXSUSD
AXS - Buy it when break out this lineBYBIT:AXSUSDT
4H trend chart
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AXS is consolidating and converging.
It's good for it to accumulate around $65
If price can break out the downtrend line, trading strategy as bleow.
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Profit Targets:
a) 74.5----Fib(1)
b) 80.995~83.625----Fib(1.272~1.382)
c) 89.260----Fib(1.618)
d) 98.385----Fib(2)
Stop losses:
a) 10.882-----Red horizontal ray
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AXS/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
Link to previous chart:
The counts were a bit off; wave 5 top was a lot lower and we've been correcting since then. The bottom also went a lot lower than predicted. We should be moving back up to the bigger wave (3) cycle.
Axie infinity got a triple bull storm brewing. Much like ethereum, Axie Infinity has an Adam and Eve double bottom, a larger standard double bottom, and an inverse head and shoulders all rolled into one. Unlike the ethereum inverse head and shoulders, the one here on axie may not be valid as it does appear that the right shoulder has a slight wick lower than the wick of the head…but if the inv h&s pattern on this one is not valid, we should still reach its target and beyond on the way to both of the double bottom targets… unless of course some major black swan event were to occur and cause a massive sell off. Barring that, probability is favoring the bulls on this one. *not financial advice*
AXSUSDT - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 37.6000, beginning of uptrend is expected.
We make sure when the resistance at 91.0875 breaks.
If the support at 37.6000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 44.42 on 2022-01-24 and the trough at 41.9 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI resistance #1 at 51 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 41.9000 on 02/24/2022, so more gains to resistance(s) 65.1427, 83.0000 and maximum to Major Resistance (91.0875) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.
Take Profits:
65.1427
83.0000
91.0875
111.6055
120.4969
138.8161
166.1540
220.0000
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AXSUSDT - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 37.6000, beginning of uptrend is expected.
We make sure when the resistance at 91.0875 breaks.
If the support at 37.6000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 44.42 on 2022-01-24 and the trough at 41.9 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI resistance #1 at 51 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 41.9000 on 02/24/2022, so more gains to resistance(s) 65.1427, 83.0000 and maximum to Major Resistance (91.0875) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 68.
Take Profits:
65.1427
83.0000
91.0875
111.6055
120.4969
138.8161
166.1540
220.0000
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
AXIE INFINITY! THE $50 SUPPORT LEVEL WORKED OUT.Since November 2021, we have seen most cryptos and altcoins, even Bitcoin concede downtrend movements..
Price has continued to move to the downside here on AXS, but the support level at $50 has been holding strong so far.. We've seen price bounce multiple times from this key level.
Would we see a bullish rally?
Well, we might want to wait for uptrend structures to confirm a bullish rally. But we must understand that "buying the dip" is important at this time.
The all-time high is priced around $163, so picking up AXSUSDT here at $50-$60 is really reallyyyyyy cheap, basically at a discounted price.. I'm long on AXS. I'll be waiting for a new ATH.
AXS, trendline BREAKOUT with potential target!Axie Infinity (AXS), the top Game-Fi crypto token, is in a downward trend.
A trend line has formed on the chart and the price is starting to squeeze under it. This, of course, shows the strength of the bulls.
Also, a descending wedge has formed on the chart, which is a bullish pattern.
A possible target for this movement is the key level of $49.50, where a good chance to close your long position.
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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.