$FXS Trade Idea (4H Chart)

▶️ Entry Zone: 2.27-2.3

🛑 Stop Loss: Below 2.2333 (recent low)

🎯 Take Profit 1: 2.3248 (Previous high)

🎯 Take Profit 2: 2.3894 (Estimated higher resistance)

Analysis:

FXSUSDT is currently trading above all EMAs (7, 25, 99), indicating a potential bullish trend. The price has recently bounced off the 2.2333 support level.

The RSI(14) at 50.6314 is in the neutral zone, suggesting potential for further upside.

The MACD is showing a bullish crossover, indicating strengthening momentum.

Rationale:

The current market structure for FXSUSDT is bullish, with the price attempting to break above the 2.3000 resistance level. A potential long entry can be considered after a clear pullback or consolidation, providing a better risk-reward opportunity. However, the neutral RSI suggests caution and potential profit-taking.

Caution:

The cryptocurrency market is highly volatile.

Use stop-loss orders for risk management.

Overbought conditions in the RSI might indicate a potential short-term correction.

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#FXSUSDT #FXS #CryptoTrading #TradingStrategy #TechnicalAnalysis