Axie Infinity AXS in a possible Bullish Flag. Ready to pop up?

In recent days, Axie Infinity has undergone a notable bearish trend. However, it is currently showing signs of accumulation and forming a bullish flag pattern, which suggests a possible upward movement. We remain optimistic that the support level at $8.61 will remain intact. Nonetheless, it is crucial to exercise caution and closely monitor the dollar index (dxy) and stable coins. An increase in the dxy or positive movement in stable coins could indicate a potential further decline in the cryptocurrency market, as panic selling or profit-taking by major players may push the market even lower in order to buy at a discounted price. Just my 2 cents.