【$PLAY Signal】Pullback to go long, short squeeze still expected

$PLAY 1H timeframe high-level oscillation, buying orders accumulating around 0.0594, but the sell wall above at 0.0595-0.0596 is very thick, short-term breakout requires volume. 4H MACD shows decreasing red bars, bullish momentum not fully exhausted. Funding rates remain high, open interest stable, the short squeeze logic is still valid.

🎯Direction: Long

⚡Entry/Orders: Pending orders buried in the 0.0554 - 0.0568 range

🛑Stop loss: 0.0503

🚀Target 1: 0.0829

🚀Target 2: 0.0959

🛡️Trade management:
- Execution strategy: Reduce 50% of position after reaching Target 1, and move stop loss to breakeven. If price falls back into the entry zone, exit automatically to protect capital.

The 1H RSI is around 62, not overbought, leaving room for a second upward move. Market depth data shows that buy orders below 0.0593 are significantly deeper than sell orders above, indicating clear support from funds. The middle band of the 4-hour Bollinger Bands at 0.0440 provides strong trend support. The current price is between the upper and middle bands, indicating a healthy correction. Open interest has not decreased with price oscillations, suggesting that the main players have not exited but are only clearing out short-term positions. Under this structure, the risk-reward ratio exceeds 4:1, making it worthwhile to use a smaller position size to bet on a rebound after a pullback.

Check real-time market 👇 $PLAY
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