AXS/USDT Buy long Futures-Steemit Crypto Academy | S6W1 | Team Trading Contest Post for Crypto-Empires
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👉 Brief Introduction of the Axie infinity Project (AXS)
For the last day, I have selected the Axie infinity project as my Trading Coin for the day. AXS is very good gaming platform-related Token that runs on the Ethereum blockchain. We all know how much strong this Ethereum blockchain is and the same as this Token is a stronger project as compared to other gaming Projects. Before a few months, this Token was stand in 1st place on the Top Non-Fungible Tokens list. However, now it has taken 2nd place in the category of top NFTs.
Screenshot - https://www.coingecko.com/en/categories/non-fungible-tokens-nft
Now Let's look at a screenshot of AXS's official website.
Screenshot - https://axieinfinity.com/
Axie Infinity is a very popular gaming platform that consists of more than a 2.5million daily players. Simply, the player should invest in AXS tokens and he can breed other NFTs using these AXS tokens. Then we can earn SLP coins as the reward for this Axie Infinity game.
In addition to that, AXS coin also provides good staking rewards for our AXS investments. Probably, at this time, it provides more than 105% interest APY for 3 months stakes. So, it is a very good investment for earning some extra rewards in addition to trading coins.
👉 Which exchange can be traded on
AXS is also a very popular and heavy potential gaming project in the Cryptocurrency field. So, it has been listed with a lot of major exchanges including Binance, Huobi, and Kucoin. Below I have mentioned the Top 10 exchanges that can be used as a Trading platform for AXS Tokens.
Screenshot - https://coinmarketcap.com/currencies/axie-infinity/markets/
👉 Why are you optimistic about this Token today
Same as yesterday, I am not going to buy this coin in my spot wallet. Because already I have some amount of AXS in my wallet as staked Tokens and it will take a few days or months to rise again with this general Bitcoin Crash. However, still, if someone needs to buy this coin as a long-term investment, he can buy this token and stake it for 3 months with 105% interest APY.
So, today, I will trade on this AXS coin using Futures Trading. Because I'm much familiar with the scalping trading technique and today I will use a bit different technique. So, I will take my entry using a 5min chart as I need to exit from the market soon. This is because there is a lot of bad news in the market as compared to good news. So, it's better to take entry points without wasting time.
👉 How long do you think it can rise?
In fact, this Token will definitely rise with very good profits in a few days. But, Today, I wish to take my profits within a few hours or minutes as I'm following a 5min chart to take my entry and exit.
So, in this post, I will invest 5$ by multiplying it up to 50$ which means that I'm going to take my entry for 50$ using 10x leverage. It is the same as yesterday's Trade but the Trading strategy is different.
I have already completed the fundamental analysis part of this Token above. So, it's time to do my technical analysis part. Here I've chosen AXS/USDT pair and firstly I will analyze my chart using a 5min chart. Let's do it.
Screenshot - https://www.tradingview.com/chart/
According to the above screenshot, you can see the indicators which I have used in this Trading strategy. That is the RSI indicator, Bollinger Band indicator, and William Fractals indicator. All these indicators are clearly explained by academy professors in the past season. So, I will use these 3 indicators as a Trading strategy in my short-term Trade. (Scalping) At the same time, I have used support and resistance levels to place my entry and exit points correctly.
So, here you can see a good bullish divergence has formed from the RSI indicator and that is a good bullish sign for taking a Buy long entry. At the same time, the William Fractals indicator has given the buy signal through an arrow on the downside. And also, the price movement has received good support from the below Bollinger band. Let's take my entry and see the progress.
Screenshot - https://www.tradingview.com/chart/
According to the above screenshot, you can see the progress of my order after a few minutes. It has really moved as I expected. So, I have taken my entry using 10x leverage. Let's look at my ongoing order.
Screenshot - Binance Mobile App(Futures)
Let's wait for a few minutes until the price level move towards the highlighted zones. Especially, I must mention that I have marked the nearest resistance zone to take my profit and the nearest support zone to set my Stop-loss level. Let's look at another screenshot of my ongoing order.
Screenshot - Binance Mobile App(Futures)
According to the above screenshot, you can clearly see that Target has reached the same as my expectation. Now I have sold my Coin at the exact exit point that I have highlighted in the Chart. Let's look at my Entry and exit order Transaction details too.
Screenshot - Binance Desctop(Futures)
Below is my profit(0.30 USDT) for the 5$ investment that I earned within a few minutes.
Screenshot - Binance Desctop(Futures)
Below is the winning percentage that I have taken from my Binance Mobile app.
Screenshot - Binance Mobile App(Futures)
Like I said earlier, I have already closed my order according to the relevant Trading Plan. And also, I have earned 0.30$ as my net profit for this 5$ investment which is more than 11% of earnings as a percentage.
Definitely, I recommend this coin for anyone who is willing to take a good profit as a long-term investment. However, as usual, if we take short-term entries like Futures entries, we should place a tight stop loss as it is very risky to take entry points in this very volatile market. Additionally, everyone can invest in this Token and get higher staking rewards through the Binance staking platform.
This is all about my Trading post and I thank you to professor @reddileep for including me in your valuable Trading Team. I also used one of your taught Trading strategies and it was very successful.