We can see that AXS/USDT has broken out of a falling wedge and has created an inverse head and shoulders at the bottom to indicate a reversal.
We can see that after the inverse head and shoulders, there was one powerful move up which is currently retracing. It will retrace to the support I have drawn and then make another big upwards move to the targets provided.
Target #1 on the chart is derived using the Fibonacci tool.
Target #2 on the chart is derived using support/resistance from the 1D chart and also the imbalance which is indicated in the chart.
I would personally take profit at Target #1 and then get back in on a retracement before it goes to Target #2
We can see that after the inverse head and shoulders, there was one powerful move up which is currently retracing. It will retrace to the support I have drawn and then make another big upwards move to the targets provided.
Target #1 on the chart is derived using the Fibonacci tool.
Target #2 on the chart is derived using support/resistance from the 1D chart and also the imbalance which is indicated in the chart.
I would personally take profit at Target #1 and then get back in on a retracement before it goes to Target #2
Trade active:
Entered the trade now at 56.32
