AXS has been quite interesting recently. After a 32% surge, the price is now oscillating at a high level, and many people see this trend as the top. But I think it's not quite the same; it looks more like a healthy profit-taking phase, with the main players preparing for the next rally.

From the market data, the open interest remains high, indicating that large funds haven't exited. In the short term, there are indeed some profit-taking sell-offs, but these selling pressures have been mostly absorbed, and the pullback hasn't been significant. This tight consolidation structure is actually a good signal.

From a trading perspective, I am bullish. The range between 2.000 and 2.030 could be a good entry point; if it drops to 1.920, stop-loss is necessary. Going upward, the first target is 2.200, and if it gets stronger, it could reach 2.400. The key is to hold the breakout consolidation zone; whether it breaks or not, the probability of an upward continuation is quite high.