Is is time to BUY AXIE?
Hey guys, this is Julie =D
Let's take a look on Axie Infinity today?
First let's talk about the weekly chart -
On the weekly chart, Axie is in a clear Bull Trend, it has made nice higher highs and higher lows, and now it is at a very good level: the price has just corrected to the 21 EMA, which is the same price it was in August (purple line), making a good resistance level.
(I would put the weekly chart image here, but I can't, sorry)
We don't have a confirmation yet, but it would be a great time to buy Axie, I would just wait for something like a Bullish Pivot on the daily chart.
Daily chart:
Have you noticed that Axie sometimes makes this rectangle and then blows up? I think this might be the case again.
Some people may also see a head and shoulders pattern in this last rectangle, but I think it is too big to be that. Also, Axie has done this before and it wasn't triggered, so I don't believe it is a head and shoulders pattern.
It also has this resistance (orange line) holding Axie at this level.
I'm out of Axie right now, but with a good confirmation, I would buy it. I would just wait to see if these resistance levels will not be lost.
Thanks for reading my analysis 🥰
If you liked this ideia, remember to support me with your like and subscription! 😊👍
Have a great weekend!
Let's take a look on Axie Infinity today?
First let's talk about the weekly chart -
On the weekly chart, Axie is in a clear Bull Trend, it has made nice higher highs and higher lows, and now it is at a very good level: the price has just corrected to the 21 EMA, which is the same price it was in August (purple line), making a good resistance level.
(I would put the weekly chart image here, but I can't, sorry)
We don't have a confirmation yet, but it would be a great time to buy Axie, I would just wait for something like a Bullish Pivot on the daily chart.
Daily chart:
Have you noticed that Axie sometimes makes this rectangle and then blows up? I think this might be the case again.
Some people may also see a head and shoulders pattern in this last rectangle, but I think it is too big to be that. Also, Axie has done this before and it wasn't triggered, so I don't believe it is a head and shoulders pattern.
It also has this resistance (orange line) holding Axie at this level.
I'm out of Axie right now, but with a good confirmation, I would buy it. I would just wait to see if these resistance levels will not be lost.
Thanks for reading my analysis 🥰
If you liked this ideia, remember to support me with your like and subscription! 😊👍
Have a great weekend!
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