【$PIPPIN Signal】Longs continue to unwind, 1H pullback confirmation followed by a second wave attack

$PIPPIN The 1H timeframe, after experiencing a massive rally, is currently in a healthy retracement phase, with the price finding initial support above the EMA20(0.5336). The 4H timeframe shows a strong bullish trend with increased volume and a long bullish candle, current open interest (OI) remains stable, and the funding rate is only 0.0197%, indicating that the risk of a short squeeze still exists. The main force is clearly defending the market. The 1H RSI(61.83) has pulled back from the overbought zone, preparing for another upward push.

🎯Direction: Long (Long)

🎯Entry/Order: 0.5750 - 0.5800 (Reason: 1H EMA20 dynamic support zone, near current price)

🛑Stop Loss: 0.5490 (Reason: Break below previous 1H candle body low and ATR lower band)

🚀Target 1: 0.6260 (Reason: Previous high resistance level, also the 1H Fibonacci 0.618 extension level)

🚀Target 2: 0.6580 (Reason: Previous high on the 4H timeframe, after breakout look for the 1.618 extension level)

🛡️Trade Management:

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

- Execution strategy: After the price reaches 0.6260, 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 fails to hold above 0.5800 and quickly falls back to the entry zone, exit immediately and observe.

Deep logic: Over the past 4 hours, trading volume exploded, with buy-side depth (bid_ask_ratio_depth=2.09) significantly better than sell-side, indicating large funds are supporting from below. Although the 1H RSI once touched 80 overbought, the price refused to deepen the correction, a typical sign of a strong market. Market logic suggests “price rising, combined with position volume,” and with OI remaining stable, this looks more like new longs continuing to build positions rather than purely shorts being squeezed out. There is still upward momentum.

Trade here 👇 $PIPPIN

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