【$OP Signal】Pullback to go long! 1H pullback confirmation, 4H trendline support for rebound trading

$OP The 1H timeframe is currently pulling back to EMA20 (0.1953) and the previous breakout level, which is a healthy correction. The 4H timeframe has just broken above the descending trendline and confirmed the pullback, with open interest stable and negative funding rates providing fuel for short squeeze. This is a typical breakout pullback to go long structure.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1945 - 0.1950 (Reason: 1H EMA20 support + 4H breakout trendline pullback zone)

🛑Stop Loss: 0.1928 (Reason: Break below 4H breakout low of 0.1941 + ATR buffer)

🚀Target 1: 0.2005 (Reason: Near previous high resistance at 0.2007)

🚀Target 2: 0.2050 (Reason: 1.618 Fibonacci extension level)

🛡Trade Management:

- Position size suggestion: Light position (Reason: Overall still in a downtrend channel, this is a counter-trend rebound game)

- Execution strategy: Reduce position by 50% after reaching Target 1, move remaining stop loss to entry price. If the price cannot rise quickly and falls below 0.1950 again, consider exiting early.

Deep logic: After the price retraced from the 4H high of 0.2007, it found buying support in the 0.1940-0.1950 zone, with order book showing decent buy depth. The 1H RSI (52) is neutral, with room to move higher. Key is whether it can stabilize above 0.1950 and volume increases again. Negative funding rates suggest crowded shorts, and any upward move could trigger a short squeeze.

Trade here 👇 $OP

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