$FXS/BTC 4h (Binance Spot) Bull-pennant breakout
Updated
Frax Share broke out bullish locally and looks ready for another leg-up that pull-back.
FXS is not only a DeFi token but also a member of the Avalanche Ecosystem!
It works as a governance for the Frax Protocol, which is the first fractional-algorithmic stablecoin system (FRAX).
Current Price= 0.00012369
Buy Entry= 0.00012395 - 0.00011715
Take Profit= 0.00014456 | 0.00015810 | 0.00018294
Stop Loss= 0.00010275
Risk/Reward= 1:1.35 | 1:2.11 | 1:3.51
Expected Profit= +19.92% | +31.15% | +51.75%
Possible Loss= -14.77%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
FXS is not only a DeFi token but also a member of the Avalanche Ecosystem!
It works as a governance for the Frax Protocol, which is the first fractional-algorithmic stablecoin system (FRAX).
Current Price= 0.00012369
Buy Entry= 0.00012395 - 0.00011715
Take Profit= 0.00014456 | 0.00015810 | 0.00018294
Stop Loss= 0.00010275
Risk/Reward= 1:1.35 | 1:2.11 | 1:3.51
Expected Profit= +19.92% | +31.15% | +51.75%
Possible Loss= -14.77%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
Note
More information about Frax ShareGovernance:
Grants holders governance rights to add/adjust collateral pools, set minting/redemption fees
Staking:
Stake in various pools to earn interest with preferred APY.
Minting & Redeeming:
FXS will be burned when minting FRAX and minted when redeeming FRAX.
Rewards:
FXS rewards will be claimable for users who deposit Uniswap LP tokens to incentivized pairs.
research.binance.com/en/projects/frax-share
Frax Protocol: frax.finance/
Trade active
All entries filledFrax Share did not bounce on pennant retest and is now on critical local support!
Seems like the SL is quite "huntable" so we edited it a bit lower (0.00009654₿) for now (R/R= 1:1 for TP1)
Trade closed: target reached
TP3 reached with +51.75% (1x) and +2.6RFrax Share pumped out of nowhere achieving all targets at once before pulling back!
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