【$ESP Signal】Long - Strong breakout on 1H timeframe followed by pullback, main force clearly defending the market

$ESP After experiencing a massive surge, the 1H timeframe is currently consolidating strongly at high levels. The price has built a support platform around 0.082, with the 1H EMA20 (0.0711) significantly moving upward to form a strong support. A towering pillar on the 4H chart (+36.9%) has directly reversed the downward trend, with EMA20 (0.0643) crossing above EMA50 (0.0665), indicating a shift to a bullish trend. Currently, the 1H RSI (76.86) is high but not exhausted. Combined with negative funding rates (-0.0362%) and stable open interest, it shows that bears are still passively covering their positions, and short squeeze momentum is ongoing. The order book depth (0.08236-0.0824) is significantly stacked, with main force defending the market and rejecting deep pullbacks.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0818 - 0.0822 (Reason: Support at the lower end of the current strong consolidation zone, 1H candlestick body support )

🛑Stop loss: 0.0785 (Reason: Break below previous 1H low of 0.07735 and platform support, ATR-based stop loss )

🚀Target 1: 0.0860 (Reason: Resistance near previous high of 0.08598 )

🚀Target 2: 0.0900 (Reason: Psychological round number and 1.272 Fibonacci extension level )

🛡️Trade management:

- Position size suggestion: Light (Reason: Daily gains are already significant, volatility is extremely high )

- Execution strategy: Use scaled partial profit-taking. Close 50% at Target 1, move the remaining stop loss up to entry price 0.0820. If the price strongly breaks through 0.0860 and stabilizes, target the remaining position at 0.0900.

Depth logic: This is a typical main force-driven short squeeze. 4H volume surged dozens of times, and prices soared, but open interest remained stable rather than decreasing, indicating this is not a short covering panic but active new long positions entering the market. Negative funding rates suggest bears are stubbornly holding positions, fueling further short squeeze. After the surge, the 1H chart shows sideways consolidation at high levels rather than a direct pullback, indicating strength. The order book shows buy orders far exceeding sell orders (depth imbalance -2.98%), with solid support below. The core strategy is to bet on a secondary upward attack after strong consolidation, with a firm stop loss.

Check real-time market 👇 $ESP

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