$ID I'm still bullish this round, but this isn't the time to chase the highest point.
It has surged 29.8% in 24 hours, yet the funding rate is still at -1.4443%. This indicates that shorts haven't completely exited; the harder prices are to push down, the more likely it is for a passive short squeeze later.
Structurally, the 4-hour chart has broken through the BOLL upper band, with trading volume up to nearly 4.86 times the average of the last 20 candles. The 4-hour MACD is also in bullish territory. The 1-hour still shows a bullish alignment with MA7/25/99, so the overall structure isn't broken yet.
For short-term trading, one should pay attention to this: the 15-minute MACD has weakened, indicating that this isn't a no-brainer high-chase position. I’d prefer to see if it can hold 0.0332 on a pullback. If it holds, then I’m looking at the previous high zone between 0.0357-0.0366; if it breaks through 0.0366 with volume, then I’ll watch around 0.0369.
If it drops below 0.0332, I’ll consider this squeeze a failure and won’t look for reasons to support the bulls anymore.
In this market, the key isn’t how excited the bulls are, but how the shorts are still paying to hold their positions without being able to push prices down.
It has surged 29.8% in 24 hours, yet the funding rate is still at -1.4443%. This indicates that shorts haven't completely exited; the harder prices are to push down, the more likely it is for a passive short squeeze later.
Structurally, the 4-hour chart has broken through the BOLL upper band, with trading volume up to nearly 4.86 times the average of the last 20 candles. The 4-hour MACD is also in bullish territory. The 1-hour still shows a bullish alignment with MA7/25/99, so the overall structure isn't broken yet.
For short-term trading, one should pay attention to this: the 15-minute MACD has weakened, indicating that this isn't a no-brainer high-chase position. I’d prefer to see if it can hold 0.0332 on a pullback. If it holds, then I’m looking at the previous high zone between 0.0357-0.0366; if it breaks through 0.0366 with volume, then I’ll watch around 0.0369.
If it drops below 0.0332, I’ll consider this squeeze a failure and won’t look for reasons to support the bulls anymore.
In this market, the key isn’t how excited the bulls are, but how the shorts are still paying to hold their positions without being able to push prices down.