【$RAVE Signal】Pullback to Long + 1H level retest confirmation, betting on a secondary rally

$RAVE The 1H level has experienced a massive surge and is currently in a healthy retracement phase with decreasing volume. The price has found initial support above the 1H EMA20 (0.6616). Meanwhile, the 4H level has strongly broken through the previous consolidation range, turning the trend bullish. Under the current negative funding rate environment of (-0.0357%), the price remains firm, with potential for short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 0.6720 - 0.6750 (Reason: Retracement to 1H EMA20 support zone and previous small platform top formation)

🛑Stop Loss: 0.6580 (Reason: Break below 1H EMA50 and the previous 4H candle low of 0.6655, confirming a deep correction)

🚀Target 1: 0.7060 (Reason: Previous high resistance level and the starting point of the last 1H rally)

🚀Target 2: 0.7280 (Reason: After breaking previous high, aiming for the 1.618 Fibonacci extension level)

🛡️Trade Management:

- Position suggestion: Light position (Reason: Hot Coin exhibits high volatility, currently in a correction phase, need to confirm support validity)

- Execution strategy: After entering, if the price quickly rises to Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss to the entry price. If the price consolidates in the entry zone for more than 4 one-hour candles without rising, consider closing the position.

Deep logic: The 4H timeframe shows a strong bullish breakout with a long green candle, indicating robust buying power. Although the 1H RSI (58.69) has fallen from overbought territory, it remains in a strong zone, indicating a healthy correction. Market depth data shows substantial buy-side support (bid_ask_ratio_depth: 1.43), with dense support below. Open interest (Open Interest) remains stable and has not significantly decreased with the price correction, suggesting that bullish positions are not panicking and are preparing for further upward movement. Coupled with the negative funding rate, there is a risk of short squeeze.

Check real-time market 👇 $RAVE

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #Gate广场发帖领五万美金红包