$BLESS After a violent surge, it is now oscillating at a high level, showing clear signs of bullish momentum exhaustion and distribution.
🎯 Direction: No Position
Market Analysis: After forming a long upper shadow at 0.0074 on the 4H timeframe, the price fell back above EMA20 (0.0054), but the latest K-line buying ratio dropped to 0.47, indicating a sudden decline in the willingness to chase highs. The depth imbalance is -5.51%, with sell orders (Asks) significantly greater than buy orders (Bids), and heavy selling pressure above.
Logical Core: Although the price is above EMA20, key data points to risk. The funding rate is as high as 0.005%, indicating extreme greed levels. Open interest (OI) remains stable rather than rising after the price peak, suggesting that the rise is driven by existing funds, lacking new long positions. RSI (58.99) has retreated from the overbought zone but has not formed an effective divergence, currently at a directional choice node.
Risk Control Perspective: The price has dropped below the midpoint of the previous 4H bullish candle (0.0061), which is the boundary for short-term strength and weakness. If it cannot quickly recover, it may test the support at 0.00573 (previous low and Fibonacci 0.382 level) below. The current risk-reward ratio is unclear, with insufficient win rate; the best strategy is to remain in cash and wait for a clearer supply and demand structure to emerge.
Trade here 👇$BLESS
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