Axie Infinity, Polkadot and Bitcoin – European Wrap 12 October


Axie Infinity price (AXS) is on a downward trajectory after hitting new all-time highs on October 4. With daily candles showing lower highs and the baseline as support at $111.08, a squeeze pushes bulls out of their positions. A break would spell more downside to come, with $100 as the first level of support.

AXS/USD daily chart

Polkadot price has struggled to successfully rise past the high probability reversal zone for over a month now. The recent attempt to shatter it failed, leading to a local top on October 12. Since then, DOT has been in a downtrend and is likely to continue heading lower.

 

DOT/USDT 1-day chart

Bitcoin price is at that point where investors are anticipating the retest of its all-time high and perhaps an entry into the price discovery mode. While this development is likely, market participants need to wait for BTC to flip a significant hurdle to mark the start of a new uptrend.

BTC/USD 1-day chart

 

 

 

 



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