$SPACE 1H level has just experienced a historical rally, with a daily increase of over 54%. Currently, it is strongly consolidating at a high level. The 4H level saw a giant bullish candle directly break the long-term downtrend, signaling a trend reversal. The current 1H candlestick is strongly consolidating above EMA20 (0.0076), which is a typical bullish strong consolidation structure, building strength for a second upward attack.
🎯 Direction: Long
🎯 Entry/Order: 0.00925 - 0.00935 (Reason: Retracement to the 1H level EMA20 support area and the previous hour's candlestick low)
🛑 Stop Loss: 0.00895 (Reason: Dropping below the lower edge of the strong 1H consolidation platform and previous low support)
🚀 Target 1: 0.00980 (Reason: Breaking through previous high resistance, looking towards the first resistance level after the rally)
🚀 Target 2: 0.01050 (Reason: Expansion target based on ATR calculation, corresponding to 1.618 Fibonacci extension)
🛡️ Trade Management:
- Position Suggestion: Light Position (Reason: Huge daily increase, extremely high volatility, risk and reward coexist)
- Execution Strategy: After the price reaches Target 1, reduce position by 50% to lock in profits, and move the stop loss of the remaining position to the entry price (breakeven). If the price strongly breaks through 0.00980, the stop loss of the remaining position can be moved to hold for greater profits.
Deep Logic: Extremely strong on the data level. 1H RSI reaches 83, although in overbought territory, it has not turned, showing strong momentum. Market depth shows that buy orders (Bid) are far greater than sell orders (Ask), with a depth imbalance reaching 19.87%, indicating strong buying support. Open Interest (OI) remains stable after the price skyrocketed, indicating that it is not simply a short squeeze, and there may be new long funds entering to support. Market logic suggests a price increase, combined with stable OI, leaning towards the logic of major players entering to support. The current price, after a massive rally, refuses to undergo a deep correction, which is a strong characteristic.
Trade here 👇$SPACE
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