IOX-FX - AXSUSDT - Bullish pennant pattern + daily channel break
AXSUSDT
We are looking for a downward movement in axie. If the price closes below the bullish channel of the lower timeframe, we could see a correction to 93.38. On the other hand, we have broken the daily bullish channel.
The correction could reach 93.38 which is the 0.618 zone of the fibonacci retracement and also coincides with the trendline marked on the chart.
On the other hand, we would have to wait for a good confirmation since if we did not break the bullish channel of lower timeframes we would look for long targets, since we have a bullish flag pattern formed.
Possible bearish target (correction): 93.38
Possible bullish target: 239.31
We are looking for a downward movement in axie. If the price closes below the bullish channel of the lower timeframe, we could see a correction to 93.38. On the other hand, we have broken the daily bullish channel.
The correction could reach 93.38 which is the 0.618 zone of the fibonacci retracement and also coincides with the trendline marked on the chart.
On the other hand, we would have to wait for a good confirmation since if we did not break the bullish channel of lower timeframes we would look for long targets, since we have a bullish flag pattern formed.
Possible bearish target (correction): 93.38
Possible bullish target: 239.31