AXS clutching at support
ATM I don't believe AXS will be able to hold it's support level at 119.23usdt.
Although our HTF bias on the daily is still bullish, on 4h and below we have retraced and now struggle to bounce from support.
One successful bullish BOS did occur reaching 140.90usdt, but since then we've created a lower high and a lower low, breaking on LTF.
That left large supply zones that will have to be absorbed which might be difficult, seeing as how we've already used up or demand zones.
I would like to see 130.97usdt being broken first, and if we're able to do that, we might be able to cut through the large supply zone overhead.
Not holding my breath though. In case AXS continues to roll, I will be eyeing the next demand zone which is our daily zone at 110.36usdt.
Although our HTF bias on the daily is still bullish, on 4h and below we have retraced and now struggle to bounce from support.
One successful bullish BOS did occur reaching 140.90usdt, but since then we've created a lower high and a lower low, breaking on LTF.
That left large supply zones that will have to be absorbed which might be difficult, seeing as how we've already used up or demand zones.
I would like to see 130.97usdt being broken first, and if we're able to do that, we might be able to cut through the large supply zone overhead.
Not holding my breath though. In case AXS continues to roll, I will be eyeing the next demand zone which is our daily zone at 110.36usdt.