【$PLAY Signal】Long! 1H level violent surge, funding rate positive feedback, short squeeze in progress

$PLAY The 1H level just completed a volume breakout, a giant bullish candle directly broke through all recent resistance. The 4H level has formed three consecutive bullish candles, confirming a trend reversal. Currently, after a massive volume transaction, the price is consolidating slightly, which is a typical strong consolidation, preparing for the next upward move. The funding rate is as high as 0.1367%, indicating extreme market bullish sentiment and potential for a short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0242 - 0.0244 (Reason: Current strong consolidation zone lower boundary, 1H EMA20 dynamic support )

🛑Stop Loss: 0.0235 (Reason: Break below the start of the 1H giant bullish candle and ATR lower band )

🚀Target 1: 0.0258 (Reason: Previous high resistance level and 1.272 Fibonacci extension )

🚀Target 2: 0.0275 (Reason: 1.618 Fibonacci extension, corresponding to previous dense chip area )

🛡️Trade Management:

- Position suggestion: Light position (Reason: Daily increase has exceeded 20%, volatility is extremely high, risk and opportunity coexist )

- Execution strategy: After the price reaches Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price. If the price strongly breaks through 0.0258, move the remaining stop loss to hold and seek greater space.

Deep logic: The volume over the past 4 hours has expanded exponentially, a clear signal of main capital entering. Open interest remains stable, indicating not just short covering but new long positions. The 1H RSI is as high as 75.4, in a strong zone but not severely overbought, leaving room for further upward movement. The order book shows substantial buy depth, with large buy orders accumulated in the 0.0242-0.0243 range, forming immediate support. Combined with positive funding rates, this is a typical bullish-driven short squeeze, and following the trend is the only choice.

View real-time quotes 👇 $PLAY

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