【$ONG Signal】Short squeeze retracement, buying pressure reveals bottom support intent

$ONG After a huge bullish candle on the 4H timeframe, the price retraced. The MACD histogram is still expanding strongly, but the price has fallen nearly 15% from the high. The order book shows a mountain of buy walls around 0.0917, indicating a clear imbalance in depth. This suggests active capital protection to prevent further price decline. The negative funding rate is as high as -1.5%, making short positions very costly. Once buying pressure intensifies, a short squeeze could easily occur.

🎯Direction: Long

⚡Entry/Order: Enter in batches between 0.0879 - 0.0888

🛑Stop Loss: 0.0805

🚀Target 1: 0.1219

🚀Target 2: 0.1384

🛡️Trade Management:
- Execution Strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to break-even. If the price falls back into the entry zone, exit automatically to protect capital.

Open interest remains stable after the surge, indicating no large-scale capital withdrawal. Although there is no data on the 1H timeframe, the 4H Bollinger Bands are operating in the upper half, with the midline at 0.0703 serving as a strong support. The current risk-reward ratio exceeds 4, making this a favorable position for bulls to attempt a second rally. The buy side depth far exceeds the sell side, increasing the likelihood of rapid absorption of selling pressure.

View real-time market 👇 $ONG
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