$FOGO is once again showing strength after successfully forming a new upward structure. Previously, prices were still moving in a transitional phase, but now it is clear that valid higher highs and higher lows are being established. This indicates that the upward trend continues and buyers still hold market control.

The previous trade setup also went according to plan and successfully generated profit. The price reaction in the area we have mapped is quite precise, proving that the market structure is still being respected well. The upward momentum that occurred is not just a spike but is supported by the formation of a healthy structure.

Currently, FOGO is testing the supply area on the daily timeframe. The price briefly touched that zone and immediately faced rejection, as seen from the quite firm bounce. This area is key for the continuation of the trend. If buying pressure can absorb supply at this level, the opportunity to continue the next increase is still very much open.
@Fogo Official $FOGO #fogo