【$ETH Signal】1H Breakout and Pullback Confirmation, Short-term Short Squeeze

$ETH The 1H timeframe is consolidating strongly above the EMA20, just completing a test and pullback from the previous high of 1988. The 4H timeframe has already moved above the EMA20, forming a bullish engulfing candlestick pattern, but the EMA50 (1982) above acts as a short-term resistance. Price, open interest (OI Stable), and buy order depth show positive divergence, indicating that bears have not yet exerted force at the key resistance level, with potential for a short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 1985.0 - 1987.5 (Reason: 1H pullback confirmation zone, EMA20 support on 1H, and dense buy orders on the order book )

🛑Stop Loss: 1978.0 (Reason: Break below the 1H previous low of 1976.8 and EMA20 support on 1H )

🚀Target 1: 1996.5 (Reason: 1H previous high resistance )

🚀Target 2: 2015.0 (Reason: 0.618 Fibonacci retracement of the recent 4H decline and rebound )

🛡️Trade Management:

- Position Size Suggestion: Light (Reason: 4H trend is not fully clear, EMA50 resistance, focus on short-term trading )

- Execution Strategy: After reaching Target 1, take profit on 50% of the position, and move the stop loss of the remaining position to the entry price (break-even). If the price strongly breaks through 1996.5 and stabilizes, consider targeting 2015 for the remaining position.

Depth Logic: Market depth shows a large sell order at level one (1987.45) with 197.979 ETH, forming a clear resistance. However, buy support below is also dense, and the depth imbalance of -94.14% indicates concentrated sell pressure in a very narrow range. Once broken, liquidity above is thin, which could trigger a rapid surge. The 1H RSI (66.71) is in a strong zone but not overbought, leaving room for upward movement. Combining market logic indicating “price rising,” and stable OI, this appears to be the initial stage of either main force defending the price or bears passively closing positions.

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