Our previous idea that AXS would break out of the triangle worked well for those that took shorts after the breakout. The new idea is to buy at this level and try to sell when wave 5 completes which should have at least 100% profitability. The risk is low because the lowest AXS can now go while maintaining this structure is 0.85 which quite notably is also the 2.618 level of a retracement of corrective wave A.
So we will likely either bounce where we are now or go a little deeper to touch the 0.85.
Above all make sure to manage risk because Ethereum is in a very powerful retracement so it is not the time to overleverage.
So we will likely either bounce where we are now or go a little deeper to touch the 0.85.
Above all make sure to manage risk because Ethereum is in a very powerful retracement so it is not the time to overleverage.
