Axie Infinity, AXS, 0.5Fib retrace sets up 179x Algo target
2024-11-13
Category: gaming

IDK about this one... last all time high was $166 for a mc of 10b. this time supply is 3x that and the algo target is $955 giving a mc of 146b... not sure about you but that seems a bit extreme to me. not impossible, just extreme.

I'm actually surprised by axs, I thought this would go to zero. But to retrace and triple bottom on the 0.5Fib, that suggests strength... maybe I overlooked something. anyone have a theory why this is so strong?

See linked BTC chart for why my charts are so bull.


 The Trade: 
 
 Preferred Entry: $4.08 retrace of this impulse wave (if we get one)
 Ape Entry: $5.34
 Stop: $3.75
 Resistance: $41.90 - order block + bear golden pocket.
 Target: $955
 


 D.Y.O.R.  DO NOT BLINDLY TAKE THESE TRADES.
 Never Trust. Verify.  PLEASE DO YOUR OWN ANALYSIS.
 This is not financial advice.  These are just my observations.

Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong.  Risk management is key.  Capital preservation above all else.