$NIL is currently undergoing narrow consolidation at a high level after a massive single 4H candlestick surged by 41%, which is a typical healthy reset after a short squeeze, rather than a top.
🎯 Direction: Long
🎯 Entry: 0.0628 - 0.0633
🛑 Stop Loss: 0.0615 (rigid stop loss, breaking below previous low and EMA20 support)
🚀 Target 1: 0.0680
🚀 Target 2: 0.0720
Logical Core: The current market is a textbook short squeeze structure. The funding rate is as high as -0.7473%, indicating that the cost of short positions is extremely high, while the open interest (OI) remains stable, suggesting that shorts have not exited on a large scale, indicating continued squeezing potential.
The 4H level buying pressure absorption is obvious, with the latest candlestick closing above the opening price, showing limited selling pressure. The order book depth imbalance reaches 16.19%, with buy orders significantly thicker than sell orders, indicating clear intentions from institutions to support at key positions.
Prices remain steady above EMA20 (0.0498), establishing a trend. Although the RSI is at a high of 82, it is not a reason to short in a short squeeze market, but rather a signal of strong continuation. Waiting for prices to retrace to the mid-range of the massive bullish candlestick (0.0628-0.0633) to gain support is the optimal entry point for risk-reward ratio.
Trade here 👇 $NIL
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