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AXS (Axie Infinity) Falling WedgeTrade setup : Price is in a Downtrend, however, it's trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for such a breakout. Patterns : Falling Wedge Usually results in a bullish breakout . When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum : Price is Oversold currently, based on RSI-14 levels (RSI < 30). Support and Resistance : Nearest Support Zone is $4.00. Nearest Resistance Zone is $7.00, then $9.00.
Long
by altFINS
AXS: Channel Down PatternTrade setup : Trends are mixed. Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). Support and Resistance : Nearest Support Zone is $7.0, then $5.5. The nearest Resistance Zone is $9.0 (previous support), then $11.0 - $12.0 and $14.0.
Long
by altFINS
AXS: Approaching SupportTrade setup : Trends are mixed. Price had a bearish breakout from a Descending Triangle pattern. Swing Traders: could enter near $7.00 support and 200-day moving average, which should be a robust support zone, with +25% upside potential back to $9.00. Price is also getting oversold (RSI ~ 30), which means that we could see a brief bounce up near-term. Stop Loss (SL) level at $6.00. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $7.0, then $5.5. The nearest Resistance Zone is $9.0 (previous support), then $11.0 - $12.0 and $14.0.
Long
by altFINS
AXS: Approaching SupportTrade setup : Price is in an Uptrend. Following a bullish breakout from a Descending Triangle pattern, price rallied +20% to $8.50 before pulling back on some profit taking. If it pulls back near $7.00, that could be another attractive swing trade entry in Uptrend. Stop Loss (SL) at $6.70, just below prior swing low. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Approaching SupportTrade setup : Price is in an Uptrend. Following a bullish breakout from a Descending Triangle pattern, price rallied +20% to $8.50 before pulling back on some profit taking. If it pulls back near $7.00, that could be another attractive swing trade entry in Uptrend. Stop Loss (SL) at $6.70, just below prior swing low. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Descending Triangle BreakoutTrade setup : Trends are mixed. Bullish breakout from a Descending Triangle pattern could see price revisit $8.00 near-term and $9.50 medium-term. Stop Loss (SL) at $6.70, just below prior swing low. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Descending TriangleTrade setup : Trends are mixed. Trading in a Descending Triangle pattern. We wait for a breakout. Bullish breakout could see price revisit $9.50, while a bearish break below $6.90 support could be followed by a pullback to $6.00 support and 200-day moving average, which could then be a good swing trade entry. Pattern : Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle. Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Falling Wedge BreakoutTrade setup : Bullish breakout from Falling Wedge pattern signals resumption of Uptrend, with upside potential to $9.50 near-term and $11.00 medium-term. Stop Loss (SL) level at $6.80 (just below the prior swing low and nearest support zone). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis. Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Falling Wedge BreakoutTrade setup : Bullish breakout from Falling Wedge pattern signals resumption of Uptrend, with upside potential to $9.50 near-term and $11.00 medium-term. Stop Loss (SL) level at $6.80 (just below the prior swing low and nearest support zone). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50, then $11.00.
Long
by altFINS
AXS: Channel UpTrade setup : Price is in an Uptrend, trading in a Channel Up pattern. Upside potential to $9.50. Stop Loss at $6.40 (prior swing low). Pattern : Price is trading in a Channel Up pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $7.00 (previous resistance), then $6.00. The nearest Resistance Zone is $9.50.
Long
by altFINS
AXS: Resistance BreakoutAxie Infinity (AXS) technical analysis: Trade setup : Following a bullish breakout from Channel Down pattern, price also broke above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Now it’s broken above $7.00 resistance area, where it got recently rejected, and could revisit $9.50 next. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $6.00 (previous resistance), then $4.50. The nearest Resistance Zone is $7.00, which it broke, then $9.50.
Long
by altFINS
Axie Infinity bullish? Maybe, and this is why.Disclaimer: This is a Newbie analyses with no past Experience! so please Take it Easy Axie infinity technically looking neutral at the moment. At least, until early/mid May. The 4hr Candlestick chart suggests the same pattern could be repeated with a fake high in few days maybe, then early/mid May we breakout bullish probably UNLESS the 45 support level is violated prior. RSI indicator suggesting the same pattern as well. This is not a financial advise! Please comment your ideas about the analyses as I am new and want to learn from your experience and knowledge. Appreciate your constructive comment and feedback in advance.
FTX:AXSUSDLong
by ashurbanipalcrypto
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