【$PIPPIN Signal】Longs continue to unwind, 1H pullback confirmation followed by a second wave attack

$PIPPIN The 1H timeframe, after experiencing a massive rally, is currently in a healthy retracement phase, with the price finding initial support above the EMA20(0.5336). The 4H timeframe shows a strong bullish candle with increased volume, and open interest remains stable. Funding rates are only 0.0197%, so the risk of a short squeeze still exists, and the main force is clearly defending the market. The 1H RSI(61.83) has pulled back from overbought territory, preparing for another upward push.

🎯Direction: Long (Long)

🎯Entry/Order: 0.5750 - 0.5800 (Reason: 1H EMA20 dynamic support zone, near current price)

🛑Stop Loss: 0.5490 (Reason: Break below previous 1H candle low and ATR lower band)

🚀Target 1: 0.6260 (Reason: Previous high resistance level, also the 1H Fibonacci 0.618 extension level)

🚀Target 2: 0.6580 (Reason: Previous high on the 4H timeframe, break above which targets the 1.618 extension)

🛡️Trade Management:

- Position size suggestion: Light (Reason: Intraday volatility is extremely high, ATR reaches 0.0594)

- Execution strategy: After reaching 0.6260, reduce position by 50% to lock in profits, and move the stop loss of the remaining position up to the entry price. If the price cannot hold above 0.5800 and quickly falls back into the entry zone, exit immediately and observe.

Deep logic: Over the past 4 hours, trading volume exploded, with buy-side depth (bid_ask_ratio_depth=2.09) significantly better than sell-side, indicating large funds are supporting from below. Although the 1H RSI once hit 80 overbought, the price refused to deepen the correction, a typical sign of a strong market. Market logic suggests “price rising, combined with position volume,” and with open interest remaining stable, this looks more like new longs building positions rather than just shorts being squeezed out. There is still upward momentum.

Trade here 👇 $PIPPIN

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