I was telling someone earlier that $AXS $2.41606 was being underestimated by short sellers, and this short liquidation confirms it clearly. We read the market reaction and they are starting to defend higher levels instead of selling every bounce. I have done my analysis on structure and volume, and this move looks like pressure release rather than exhaustion. In my knowledge, when shorts get wiped like this, continuation attempts usually follow.

EP: 2.34 – 2.42

TP: 2.60 → 2.85 → 3.20

SL: 2.22

What’s the condition here? If AXS holds above 2.34, buyers remain in control. If you want extra safety, wait for acceptance above 2.60 before increasing size.

$AXS

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