【$ONG Signal】Short squeeze setup, pull back to add long positions

$ONG 1H RSI skyrocketed to 76.9, indicating overbought buying momentum, but the 4H MACD histogram is still expanding, so the bullish trend remains intact. The order book shows deep buy-side support with dense orders around 0.0643, clearly indicating capital support. The negative funding rate is as high as -0.62%, putting enormous cost pressure on short positions. This is a classic hotbed for a short squeeze.

🎯 Direction: Long

⚡ Entry/Orders: Buy in stages on pullback around 0.0604 - 0.0620

🛑 Stop-loss: 0.0602

🚀 Target 1: 0.0687

🚀 Target 2: 0.0721

🛡️ Trading management:
- Execution strategy: After reaching the first target, reduce half of the position, and move the stop-loss of the remaining position up to the entry price. If the price cannot stay above the 1H moving average, exit proactively.

Position size remains stable, with no signs of capital fleeing during price rallies. The 1-hour Bollinger Bands are opening upward, and the price is trading above the middle band, indicating a strong zone. In this negative funding rate environment, the price's resilience often suggests that the momentum from short covering has not yet been fully released. The risk-reward ratio is close to 4:1, making it worthwhile to use a smaller position to attempt a short squeeze acceleration.

View real-time market 👇 $ONG
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