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AXL / Bitcoin

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AXLBTC trade ideas

Axelar 231% Potential —Keeping It SimpleThe left side of the chart is the consolidation range. The red channel comes from a breakdown of support. This is not a bearish impulse but a breakdown of support. This is revealed by the structure of the chart and the trading volume. Since support broke down, the next logical step is for AXLBTC (Axelar) to test previous support as resistance. This indicate a move back to baseline, this is the minimum. The baseline being a ~60% up-move. The resistance level will break then Axelar will end up moving higher, much higher... Additional details and a higher target can be found mapped on the chart. Thank you for reading. Namaste.
Long
by MasterAnanda
Axelar: The Bottom Is In? Common Sense Technical AnalysisCan we say that the bottom is in? In this chart, AXLBTC, we can see a consolidation pattern (sideways) after strong bearish action. The fact that prices go flat after a strong bearish wave tells us that the bearish wave is no longer viable. It tells us that the bearish wave is over. Now, a bearish wave ending doesn't necessarily lead to a bull-market, there can be consolidation followed by a new bearish wave. This is when the market cycle and marketwide action becomes important. A conventional market analyst would be quick to tell you that this consolidation pattern, the sideways channel, is a neutral pattern and it can break to either side, up or down, and this is true. But we are looking at other charts as well, hundreds of them and many already broke bullish. Since the market is interrelated; what one does, the rest follows, we know that the probabilities lean toward the bullish side. We know that Cryptocurrency goes bullish every four years. There are bullish and bearish waves all of the time, regardless of the main global-trend, but still there is a main trend and this one becomes ultra-bullish every four years. We know this, the cycle and we also know about marketwide action and this makes it much easier to predict how the consolidation pattern will break. The bearish wave (orange) ends and price action goes flat. This flat action is showing some bullish tendencies, we expect a bullish wave to happen next. This is technical analysis mixed with common sense. I hope you find this information useful and entertaining. Thanks a lot for your continued support. Namaste.
Long
by MasterAnanda