$SPACE 1H level has entered a strong consolidation at a high position after experiencing an 85% violent surge. The price is building a platform in the range of 0.0123-0.0135, with the 1H EMA20 (0.0109) providing dynamic support, and the 4H EMA20 (0.0082) having significantly widened the distance, indicating a strong trend. The current 1H RSI (70.92) is healthily retreating from the overbought zone, and the open interest (OI) remains stable, not significantly declining with the price correction, showing that the main force has not exited but is accumulating positions to protect the market at this price level. The market depth shows huge sell orders piling up above 0.01249 (948K), but buy orders are also dense below 0.01246, forming a standoff, with a breakout imminent.
🎯 Direction: Long
🎯 Entry/Orders: 0.01235 - 0.01245 (Reason: Lower bound of the 1H consolidation zone + Dense buy order support)
🛑 Stop Loss: 0.01195 (Reason: Break below the previous low of the 1H platform + below ATR(0.0012))
🚀 Target 1: 0.01345 (Reason: Previous high resistance level, accelerating after breakout)
🚀 Target 2: 0.01480 (Reason: Based on the 1.618 Fibonacci extension level of recent gains)
🛡️ Trade Management:
- Position Suggestion: Light position (Reason: Significant intraday gain, extremely high volatility, prevent severe washout)
- Execution Strategy: After the price reaches Target 1, reduce the position by 50% to lock in profits, and move the stop loss of the remaining position up to the entry price (break-even). If the price strongly breaks through 0.0135 and stabilizes, consider chasing with profits, targeting 0.0148.
Deep Logic: This is a typical script of "healthy pullback after violent surge". The continuous increase in volume on the 4H level establishes an upward trend, while the 1H level digests profit through sideways movement. The key signal is stable OI, with no capital fleeing during the price correction, combined with a positive funding rate (0.0583%), market sentiment remains bullish. The market depth imbalance (-14.12%) shows slight selling pressure, but the thickness of buy orders below is sufficient to support a rebound. The sniper point is at the moment of pullback to the support zone.
Trade here 👇$SPACE
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