Around two weeks ago, I made an analysis where I talked about AXS and the macro bullish channel it was trading in.
As indicated on my chart above, I was looking at the area where the price touched the channel's support.
As of today, we have reached the bottom of the channel, hopefully signaling a bottom. Risk-loving traders might want to make an early entry now. However, I'd advise waiting for a green 3-day candle to signal the bottom. Bitcoin is in a dire state at the moment, so there's enough reason to be cautious.
Happy trading!
As indicated on my chart above, I was looking at the area where the price touched the channel's support.
As of today, we have reached the bottom of the channel, hopefully signaling a bottom. Risk-loving traders might want to make an early entry now. However, I'd advise waiting for a green 3-day candle to signal the bottom. Bitcoin is in a dire state at the moment, so there's enough reason to be cautious.
Happy trading!
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