【$USELESS Signal】Long! After a strong breakout on the 1H chart, a pullback confirmation indicates clear main force support

$USELESS The 1H timeframe has experienced a massive surge and is currently in a high-level consolidation pullback phase. The 4H timeframe has formed a clear upward trend, with prices staying above all EMA lines. Although the 1H RSI(75.86) indicates overbought conditions, open interest(OI) remains stable, and the order book buy depth (Bid/Ask Ratio: 0.68) shows strong support below. This is a typical strong consolidation rather than a top-out distribution. Market logic suggests prices will rise; combined with stable OI, it indicates bullish main force support, and a pullback is an opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0435 - 0.0437 (Reason: The 1H EMA20(0.0394) is in a strong zone above, with a pullback to the previous breakout platform and dense trading area upper boundary)

🛑Stop Loss: 0.0412 (Reason: Falling below the previous low support on the 1H timeframe and ATR(0.0025) lower band indicates failed pullback)

🚀Target 1: 0.0464 (Reason: Testing the previous high resistance level, also an integer psychological barrier)

🚀Target 2: 0.0495 (Reason: Based on the recent upward move’s 1.618 Fibonacci extension level)

🛡️Trade Management:

- Position suggestion: Light position (Reason: Daily increase has exceeded 30%, volatility is extremely high, strict risk control is necessary)

- 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 0.0435. If the price strongly breaks through 0.0464 and stabilizes, consider targeting the remaining position at 0.0495.

Depth logic: The 4H candlestick has closed with consecutive bullish candles, with volume and price rising together, indicating a strong trend. After reaching a high point, the 1H retraced, but trading volume shrank, which is a healthy correction. Technical indicators show that the EMA20/50 on both 1H and 4H are in bullish alignment. The key point is that open interest(Open Interest) remained “stable” after a significant price increase, not decreasing, ruling out pure short covering and implying new bullish funds entered and held positions. The order book depth imbalance of -19.10% indicates slightly more selling pressure, but buy orders are concentrated, with strong support in the 0.0435-0.0437 area, suitable for catching a pullback.

Trade here 👇 $USELESS

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