Axie Inifinity (AXS)
Cryptos are hot and then they’re not, but every now and then there’s a crypto we simply can’t ignore.
Cryptocurrencies in general have been volatile and messy the last couple of months, but today’s Chart of the Week has actually been shining.
Axie Infinity (AXS) has been shining. In fact, AXS has been making new all-time highs relative to Bitcoin itself.
It’s the 34th largest crypto, valued around a $4.2 billion market cap, which would make it a mid cap stock if it was a publicly traded company rather than a video game cryptocurrency.
In terms of risk vs reward, this is simple.
We are long AXS above $70 with a price target of $105
Clearly defined and limited risk with 50% profit potential? Yes please.
Til next week, good trading,
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