MAXI Update - Wicked below the lows of the rangeIn my previous MAXI update I discussed the risk of MAXI dropping below the channel. There was a drop below the channel that turned into a wick back above and strong rebound. I did not expect BTC to rally to all time highs before the halving at the time of the previous post. MAXI's support level held and had a nice rally with BTC. The upper range of this channel is the key price target on the way up. This price target is sloped upwards and increases over time. The current estimated target is around $31.60.
MAXI trade ideas
Bearish Signs for MAXI, At Risk of Dropping Below SupportMAXI ETF seems like one of the more interesting ETFs to invest in. So far there has been a simple trading range along this upward channel. However, I think that there are some bearish signs for MAXI with the price failing to reach the upper range of this channel during the recent uptrend. There is still the possibility of a move up to retest this upper channel. However, right now MAXI has been trending down, and I think there is a risk of dropping below the lower range of the channel during this downtrend.