【$SPACE Signal】Short squeeze continues, buy on 1H pullback!

$SPACE The 1H timeframe is consolidating at a high level after a strong rally, RSI(1H) is as high as 76.5, indicating short-term overbought conditions but momentum has not faded. The 4H timeframe has already formed a volume breakout, with price above all EMA lines, confirming the trend. Currently, the order book depth is clearly solid (Bid/Ask Ratio: 0.64), and open interest remains stable, showing that the bulls are still in control. A pullback is an opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.00825 - 0.00830 (Reason: 1H EMA20 dynamic support zone and previous hour’s low)

🛑Stop Loss: 0.00795 (Reason: Break below the previous consolidation low on the 1H timeframe and ATR lower band)

🚀Target 1: 0.00880 (Reason: Previous high resistance on the 4H timeframe and psychological round number)

🚀Target 2: 0.00950 (Reason: Based on the recent upward wave’s 1.618 Fibonacci extension level)

🛡️Trade Management:

- Position size suggestion: Light (Reason: Daily increase has exceeded 44%, volatility is extremely high, risk is amplified)

- 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. If the price strongly breaks through 0.0088, move the remaining stop loss to below 0.0086 to seek greater gains.

Depth logic: The price surged 44% while open interest remained stable, indicating it’s not just a short squeeze but also new funds entering the market. Although RSI on the 1H is high, there is no bearish divergence, and the bid depth (Bids) far exceeds the ask depth (Asks), showing strong support below. The funding rate of 0.0388% is positive but not high, indicating no extreme euphoria. The short squeeze trend still has room to continue. The key is whether the price can stabilize above the 1H EMA20; if it does, the probability of a second rally increases.

Trade here 👇 $SPACE

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