The axe is well-implemented, and the expanded shadow is actually a good idea, but it's /so/ similar to the normal (lance) sprite that I'm inclined to ask, is it just an edit of that? It's good for what it is, but I feel like you're not supposed to upload that kind of thing here...
My memory won't fail me this time. (I've been doing my own Fire Emblem pixelled revamps.)
I am certain that this is nothing more than a quick sprite edit with only the axe edited in, possibly from another Fire Emblem sprite.