$MOVE After a daily surge of over 15%, it is currently undergoing a healthy consolidation above a key breakout level. After a volume breakout at the 4H level, there is a decrease in volume during the pullback, which is typical profit digestion after a short squeeze, rather than a trend reversal.
🎯 Direction: Long
🎯 Entry: 0.0238 - 0.0241
🛑 Stop Loss: 0.0228 (rigid stop loss, below the low point of the previous breakout candlestick and EMA20 support)
🚀 Target 1: 0.0265
🚀 Target 2: 0.0288
Core Logic: 1) Short squeeze drive: Funding rate -0.56% extremely negative, open interest (OI) stable, this is a typical short squeeze structure, shorts are still being forced to cover, rather than the main force unloading. 2) Technical health: Price stabilizing above EMA20 (0.0224), RSI (62) healthily retreats from the overbought zone to neutral, preparing for a second upward attack. 3) Order book support: Deep imbalance -0.72%, buy orders (Bids) significantly thicker than sell orders (Asks) in the 0.0241-0.0242 range, indicating that there is funding supporting the price here. 4) Volume and price coordination: The explosive candlestick (08:00-12:00) saw a volume surge of 2 billion, followed by a pullback candlestick with shrinking volume, indicating a healthy washout. The key entry zone is located at the 50% Fibonacci retracement level (0.0238) of the explosive candlestick, coinciding with the densely packed buy orders in the order book, with a risk-reward ratio >2.
Trade here 👇$MOVE
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