【$OP Signal】Pullback to go long! 1H stabilizes above EMA20, clear signs of main force supporting the market

$OP The 1H timeframe is consolidating strongly above EMA20 (0.1241). The 4H timeframe just experienced a massive spike followed by a pullback, but open interest (OI) remains stable, indicating that the main force has not exited. The current price is oscillating around a key support zone. The negative funding rate (-0.0035%) suggests bearish pressure, but the price is not falling, which is a typical sign of a short squeeze. Market depth shows sell orders (0.1246) stacking up, but buy orders (below 0.1244) provide stronger support. The depth imbalance of -0.80% favors buyers. The 1H RSI (53.72) is healthy, and bullish momentum is building.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1240 - 0.1245 (Reason: 1H EMA20 dynamic support zone, also the dense trading area of the previous 1H candle )

🛑Stop Loss: 0.1225 (Reason: Breaking below the previous 1H low and the key integer level 0.1227, ATR stop loss range is reasonable )

🚀Target 1: 0.1288 (Reason: 4H resistance level, also the starting point of yesterday’s spike and pullback )

🚀Target 2: 0.1336 (Reason: Yesterday’s high, with potential to test higher Fibonacci extension levels after breakout )

🛡Trade Management:

- Position suggestion: Light position (Reason: The 4H trend is still in a downtrend. This is a counter-trend rebound, with higher risk )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.1245 (break-even). If the price cannot hold above 0.1250 (1H open price) and falls back, consider exiting early.

Depth logic: Market logic indicates that price increases should be confirmed with open interest. Over the past 4 hours, the price fell from 0.1288 to 0.1241, but OI remained stable, not decreasing with the price drop. This strongly suggests that the decline is profit-taking rather than main force distribution. Meanwhile, in a negative funding environment, stable OI can easily trigger a short squeeze. The 1H EMA50 (0.1220) is the last line of defense for bulls, close to the stop loss level, forming a resonant support.

View real-time market 👇 $OP

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