$GPS is currently undergoing high-level consolidation after breaking through the previous high at the 4-hour level. The price is forming a new support platform around 0.00927, which is a healthy reset rather than a top sell-off. The funding rate is significantly negative (-0.2315%), indicating strong bearish sentiment and providing fuel for a short squeeze. The market depth shows buying pressure accumulating around 0.00923, with strong support.
🎯 Direction: Long
🎯 Entry: 0.00923 - 0.00927
🛑 Stop Loss: 0.00890 (rigid stop loss, below the low of the previous breakout candlestick)
🚀 Target 1: 0.00980
🚀 Target 2: 0.01050
Logical analysis: A breakout bullish candle appeared on the 4H timeframe (trading volume of 1.46 billion), confirming the main force entering the market. Subsequently, the candlesticks are undergoing narrow consolidation above the breakout high, with declining volume, which is a typical post-breakout flag pattern indicating exhaustion of selling pressure. Price increase under negative funding rate is a strong signal, and forced short covering will provide additional momentum. The entry point is closely aligned with the current buying support zone, offering an excellent risk-reward ratio.
Trade here 👇
$GPS ---
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