AXS fights back

For the traders

More and more lessons regarding higher time frame closures, as we can see, AXS spiked through our level of interest.

This is why we view the higher time frame charts, guys, because now, if we can close strong on this daily, we have a very strong signal for further upside—a hammer candle forming on both a diagonal and horizontal level of support. Let's break down the scenarios.

We're looking to take out 11.07 eventually. It's a bit of a win-win.

Scenarios

Scenario 1: If we close like this, it's looking great for the upside. The market may pull back slightly intraday, but that'll only provide a better risk-to-reward ratio.

Scenario 2: If we break lower, we're seeking 6.9, which has shown clear demand and a rejection, so it'll be a nice pullback.

Highest probability entry zone

$7.5 (strong daily closure).

For the holders

It's a great pullback after a good recent performance; definitely a good place for the long-term holders to acquire more here.

It may sound like a broken record, but in pullbacks, just take opportunities when you can.

Accumulation levels

$7.5 to $6.9

Cryptonary's take

Lesson on the importance of higher time frames—stay out of the mess.

Other than that, traders, if we can close strong, it's looking good.

And investors, fill your boots.