【$PIPPIN Signal】1H pullback confirmation, main force supports the market, aiming for a second surge

$PIPPIN The 1H timeframe has experienced a massive rally and is now consolidating strongly at a key support zone of 0.577-0.580. The 4H timeframe shows a long bullish candle with increased volume establishing an upward trend. Currently, the 1H RSI (61.83) is healthy after a overbought condition, and EMA20 (0.5336) provides strong support. Market depth shows substantial buy orders (bid_ask_ratio_depth: 2.09), open interest remains stable, and funding rates are moderate. This is a typical pattern of main force supporting the market after a rally to accumulate positions, preparing for a second upward push.

🎯Direction: Long (Long)

🎯Entry/Order: 0.577 - 0.580 (Reason: 1H candlestick support zone resonates with dense buy orders on the order book )

🛑Stop Loss: 0.549 (Reason: Break below the previous 1H large bullish candle's starting point, structure is broken )

🚀Target 1: 0.626 (Reason: Previous high resistance, also the 1.0 Fibonacci extension level )

🚀Target 2: 0.658 (Reason: Intraday high, expect to reach the 1.272 extension after breakout )

🛡️Trade Management:

- Position size suggestion: Light (Reason: Intraday volatility is extremely high, ATR reaches 0.0594 )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the stop loss of the remaining position up to the entry price. If the price cannot hold above 0.580 and weakens, exit immediately.

Depth logic: Over the past 4 hours, trading volume has exploded, and the price closed at a high level, but open interest remains stable. This is not just a pump and dump; it appears to be new funds entering. The 1H EMA20 and EMA50 are in a bullish alignment, and the current price is pulling back to test the 1H EMA20 for support. Market imbalance reaches 35.21%, with buy orders dominating, and strong support below. Combining market logic indicating “price rising, consider open interest to determine if main force is entering,” current data supports the main force supporting the market rather than a short squeeze.

Trade here 👇 $PIPPIN

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #Gate广场发帖领五万美金红包