【$IOTA Signal】1H level convergence at the end, waiting for a breakout in the direction

$IOTA The 1H level price is oscillating narrowly between 0.0660-0.0667, forming a convergence triangle at the end, about to choose a direction. The 4H level remains in a downtrend channel, but the price has been supported multiple times around 0.0650, with bearish momentum weakening. Currently, the 1H RSI(43.4) is in a neutral to weak zone, indicating a rebound need. Market depth data shows buy orders (0.0650-0.0661) are much thicker than sell orders (0.0662-0.0667), with an 8.25% depth imbalance, suggesting strong support below and that major players may be accumulating. Open interest remains stable, price has slightly increased, not driven by short covering, leaning towards bullish accumulation.

🎯 Direction: Wait and see ( Pending orders )

⚡ Breakout buy order: If the price breaks above 0.0668, go long (Reason: Breaks the 1H triangle upper boundary and recent high resistance).

⚡ Pullback buy order: If the price retraces to 0.0652, go long (Reason: Strong support zone on the 4H level, combined with the lower boundary of dense buy orders).

🛑 Stop loss: 0.0645 (Reason: Breaks key support zone and ATR lower band).

🚀 Target 1: 0.0680 (Reason: 4H EMA20 resistance).

🚀 Target 2: 0.0695 (Reason: 0.618 Fibonacci retracement of the previous decline).

🛡️ Trading management:

- Position suggestion: Light position (Reason: 4H trend not fully reversed, belongs to a left-side game).

- Execution strategy: Choose either breakout orders or pullback orders, do not open multiple positions repeatedly. After execution, take 50% profit at Target 1, and move the stop loss of remaining position to entry price. If the price fails to break 0.0668 and turns down below 0.0658, abandon the bullish idea.

Depth logic: Market logic suggests the price will rise, but combined with stable open interest and buy depth advantage, it appears more like major players defending rather than purely short covering. The 1H EMA20(0.0664) forms short-term resistance; a breakout would activate short-term momentum. The 0.0650-0.0652 area below has been tested multiple times and is a dense order zone, an ideal position for defensive counterattack. The risk-reward ratio (using breakout orders as an example) is close to 1:2, worth setting up.

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