Today, above 8w there probably isn't any squeeze plan being done. Currently, the price hasn't stabilized and reclaimed the previous high point. The funding rate is also staying at a high level. When spot buy pressure can't keep up, long positions' costs keep rising, and a crowded condition is starting to form. A de-leveraging pullback in one go is quite likely.

Although the overall structure supports looking for new highs, it doesn't mean you can blindly chase longs—especially with BTC currently approaching strong resistance at the daily level plus options large-money hedging. First, let's see how well this potential support is being absorbed.

For the second entry, try to wait for a pullback.
Continue aiming to go long around 796/790 below.