[AXS/USD Buy] - Crypto Academy /S6T4-Team Trading Contest Post for Reminane.

Hello great steemians, i trust we all are doing great, i am happy about this week in which we are allowed to put what we have learnt in the Academy into practice as this will help us to know our strength and weakness in the crypto market. I am in Professor @reminiscence01 team for this week trading contest. This is my 3rd post for the week and based on this, i will be giving a full details of AXS/USD trade i took today being 31/03/2022. I will like you to stay tune as i analyze the asset below.

•The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background, etc.

The name of the token am introducing today being my number 3 day of this week contest is the AXS token. This token was launched in November 2020 as a government token with ERC-20 as the address. This token can be obtain or purchase via playing of games and immediately after each session, its reward is given out to the top ranking players. This coin was created in 2018 through Sky Mavis a technology -focused game developer and he has a team which primarily residents in Vietnam

I want you to have the knowledge behind blockchain based game like the AXS which is an Ethereum token and this token powered up Axie Infinity. It allows players to play game, battle, collect and equally build a digital kingdom for their pets. Here rewards are usually claimed if the user have stake coin in the past days while playing the game as this will help player to participate in the key governance votes. As a user, in order for you to play this game, the first thing you have to do is to buy three Axies with Ethereum. This might cost $1,500 or its equivalent of €1,115. In addition on how users could earn as stated above, AXS can be earn by players when they involves in playing various games within Axies infinity universe and through the initiatives of users.

Players have the opportunity to earn two tokens like the Axie infinity Shards (AXS) as well as Small Love Potions (SLP), because it is a governance token, it give players the opportunity to vote on the future gaming experience. Note that SLP is used to breed Axies as an in-game token.
Investors has deem it fits that AXS should a very good investment in the long run and based on its statistics on price prediction for 2022 is to make sure the price is over $100 comes October. This is the price prediction of WalletInvestors and they have even suggested the price to move to $123.08 from 31 December 2022

Source

In line with the Coinmarketcap, AXS is ranked 42 and currently traded at $66.45. Marketcap $2,171,391,742,357, Low volume $63.78 , High Volume $68.46. However, AXS can be traded in the following exchanges such as:

• Binance
• Huobi Global
• Coinbase
• FTX
• Bithumb
•KuCoin
• kraken

• Why you are optimistic about this token today, and how long do you wish it can rise.

I am not planning to hold this token for too long. My analysis is for intraday trade and it's for long position. When the price rise to where i can take profit, i will sell the market. As you can see, i have succeeded to come out from the market with a profit.

• How to analyze the token? (This can technical analysis and trading strategies learned from professor's courses) - This section is very important.

For the purpose of this contest, i have traded AXSUSD using TRIMA indicator and the Range strategy trading view to carry out my analysis. Immediately i finished my analysis, i proceeded to my MT4 chart to carry out the trade and it was a direct market execution.

Trading view

The current market phase is a range market or we can say that the market is consolidating. Here traders who understand the ranging market can use it to generate a lot of profit before a breakout occurs.

When you take a close look at the price, you will discovered that the price moved from support to resistance but sellers take over the market at that point and push the price down.

It was at this point i discovered the market pattern and i discovered that the TRIMA indicator at this point were not respected by price, so i had to follow price action by identifying the support and resistance level.

When i opened my MT4 chart, i quickly open a buy position using market execution order to enter the market immediately. My entry price, stop loss and take profit was set. This can be seen below:

Entry Price: 63.94
Stop Loss: 63.42
Take Profit: 65.11

Risk to reward Ratio: 1:1.3

Therefore, we can say that the entry price - stop loss = take profit

Note, when we have the difference between the entry and stop loss, multiply it by 1.3 (RR), then add it back to the entry price to arrive at take profit level.

We can see the screenshots below:

MT4

MT4

MT4

As you can see the screenshot above, i have closed with a profit of +$0.32 cent since the market took time to move up.

•Your plan to hold it for a long time or when to sell.

I don't have it in mind to hold this trade for too long, once thee market increase more than my entry price of this asset, i will sell the trade. For now i have close the trade with a profit of +$0.32 cent.

• Do you recommend everyone to buy this token? Give reasons for your answer.

I will say yes to this, i will recommend anyone who whish to hold to do so because AXS is ranked 42 coin in the coinmarketcap and now the market price is down so i recommend investors to buy and hold AXS now to sell and make returns in future. The risk involved here is the ability to have patience and hold the coin to rise, but you are not advice to invest cash you can loss. Please don't invest cash you can not loss.

• Any other thing you might want to share about this coin/token.

AXS is ranked no 42 Crypto leading coin which its important for investors to hold for future benefit. Since it's for gaming activities, it is made popular and have a very high growth rate.

Conclusion

The AXS token allows players to play game, battle, collect and equally build a digital kingdom for their pets. Here rewards are usually claimed if the user have stake coin in the past days while playing the game as this will help player to participate in the key governance votes. As a user, in order for you to play this game, the first thing you have to do is to buy three Axies with Ethereum. This might cost $1,500 or its equivalent of €1,115.

Thanks for your time