It take me like 1000 continues but its not impossible, you just have to try a lot of times and sometimes is easier because of the respawn of the things
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To beat loki what i did is keep doing circles around him while shooting (some of their hits will hit you but not much) with the excalibur and praying god (:
 "Magi: The Fallen World"){kind=icon}
 "Run Elephant Run"){kind=icon}
 "Cube Colossus"){kind=icon}