【$SPACE Signal】Short squeeze continuation, 1H strong breakout, chasing longs to extend gains

After consolidating strongly above the EMA20 on the 1H timeframe, the latest candle saw a volume breakout above the previous high of 0.0150, creating a new intraday high. The 4H timeframe shows continuous large bullish candles pushing higher, indicating a strong trend. Although RSI has entered the overbought zone, in the context of high funding rates (0.0734%) and stable open interest, this appears to be a continuation of the short squeeze, with short-term momentum still robust.

🎯Direction: Long $SPACE Long(

🎯Entry/Order: 0.01515 - 0.01525 )Reason: Following the breakout above the previous high of 0.0150, in a momentum-following zone, with relatively light sell pressure on the order book (

🛑Stop Loss: 0.01470 )Reason: Break below the 1H bullish candle low and EMA20 support (

🚀Target 1: 0.01650 )Reason: Based on the recent Fibonacci extension level of 1.382 (

🚀Target 2: 0.01780 )Reason: Resistance area at the previous high on the daily chart (

🛡️Trade Management:

- Position size suggestion: Light )Reason: RSI is overbought, volatility is extremely high, indicating a high-risk game (

- Execution strategy: When the price reaches around 0.0160, reduce position by 50% to lock in some profits, and move the remaining stop loss up to the entry price. If the price quickly surges above 0.0170, consider taking full profits.

Deep logic: The price surged 129% within 24 hours, but open interest remained stable, not decreasing significantly despite the surge, indicating that longs have not been largely profit-taken and major players may still be holding positions. Funding rate is high at 0.0734%, fueling continued short squeeze. Although the 1H RSI is high, there is no bearish divergence, and order book depth remains decent, showing that there are still chasing-buying funds. The key risk is a rapid correction after extreme RSI overbought conditions—trade lightly and set strict stops.

Trade here 👇 )
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