AXSUSDT getting ready to move
Looking at the chart, AXS is getting ready to make a move back towards the high.
RSI did NOT form a bull div upon looking closer, however, it did touch the oversold territory twice.
MacD indicator is forming a "trigger wave" which is a bullish divergence as the histogram is moving up closer towards the center line while the price is continuing its move downward. The moving average of the histogram is also starting to make its move up. I expect in the next 2-4 candles the 12ma will flip the 26ma which will give us confidence we are moving higher.
Price is trading in the pump chaser zone which I like to use as a means for entering pre-existing rally's.
RSI did NOT form a bull div upon looking closer, however, it did touch the oversold territory twice.
MacD indicator is forming a "trigger wave" which is a bullish divergence as the histogram is moving up closer towards the center line while the price is continuing its move downward. The moving average of the histogram is also starting to make its move up. I expect in the next 2-4 candles the 12ma will flip the 26ma which will give us confidence we are moving higher.
Price is trading in the pump chaser zone which I like to use as a means for entering pre-existing rally's.
Note
Fast forwarding to April 5th, Fib 4.669 was tagged nearly perfect. This level is typically where i enter 100% of my initial position + about 10% more for "profits". The remaining position is left to ride out as a free position as I expect that the bull market will continue. This remaining position will be re-evaluated and likely liquidated in 4-5 months from now as I suspect just about everything from here will be significantly higher.
Note
April 20th, we tagged the 4.669 fib level perfectly once again. IF you missed out on the April 5th tag, you had another opportunity. IF BTC can clean up it's act and range sideways as I expect to to do, i would expect we break past the 4.669 and turn it to support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.