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

$SPACE The 1H level is consolidating at a high after a massive rally, while the 4H level has formed a V-shaped reversal and broken through multiple resistance levels. Currently, the price is strongly consolidating above the 1H EMA20 (0.0094). Although the 1H RSI (82.96) is in overbought territory, it has not turned down, indicating strong buying momentum. Open interest remains stable, the rate is positive and not high, combined with the order book showing significantly deeper buy orders than sell orders (imbalance of 8.48%), which is typical of a funds support after a short squeeze. The pullback is an opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.01215 - 0.01225 (Reason: 1H candlestick support zone, close to EMA20_1H dynamic support )

🛑Stop loss: 0.01165 (Reason: Break below previous 1H candlestick low and ATR protection level )

🚀Target 1: 0.01340 (Reason: Previous high resistance level, also the initial target at 4H level )

🚀Target 2: 0.01480 (Reason: Based on recent rally wave 1.618 Fibonacci extension level )

🛡️Trade management:

- Position suggestion: Light position (Reason: Single-day increase exceeds 89%, volatility is extremely high, risk and opportunity coexist )

- 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 0.0135 and stabilizes, consider targeting 0.0148 for the remaining position.

Depth logic: 4H consecutive volume-increasing bullish candles, buy orders dominate (buy_sell_ratio > 0.5), a clear signal of main funds entering. Despite the daily RSI reaching 91.36, in Hot Coin’s short squeeze environment, overbought conditions can persist. The key is whether the 1H level can hold the EMA20 support. Currently, a large number of buy orders are stacked around 0.01235, forming immediate support. Stable open interest indicates bulls have not exited. If the price consolidates and volume increases again, it will challenge higher targets.

Trade here 👇 $SPACE

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