🔥$FOGO Bullish trend intact but overextended short-term
• Latest 1h candle closed as a small bearish pin bar near the daily high 0.03864, indicating potential rejection at resistance.
• Previous 4h session showed strong bullish momentum (+7.62%), followed by consolidation in the last 1-2 hours.
• Key support: 0.03595 and 0.03515 (MA20), key resistance: 0.03938
• Significant net outflows in perpetual contracts (-648K USDT 1H, -851K 6H) contrast with spot market inflows (+195K 1H, +1.67M 6H), suggesting profit-taking in derivatives while spot accumulation continues.
Entry long $FOGO
• Preferred: Pullback to support zone 0.0359-0.0362 with bullish reversal confirmation (hammer candle volume surge)
• Aggressive: Break above 0.0386 with volume
Stop-Loss: 0.0348 for entries near 0.0361
Take-Profit $FOGO
TP1: 0.0394 (Resistance)
TP2: 0.0405 (Next resistance)
Support me just Click below to Trade 👇 Cheers
A break below support 0.035 would invalidate the bullish thesis.#fogo #fogousdt