【$ETH Signal】Pullback to go long! 1H double bottom pattern forming, main force defending the market under negative funding rate

$ETH The 1H timeframe repeatedly tests the 1930-1950 range, forming a potential double bottom structure. Although the 4H timeframe is still in a downtrend channel, open interest remains stable, and the negative funding rate suggests that bears need to pay fees, indicating potential short squeeze. The 1-hour RSI has rebounded from oversold territory, showing weakening downward momentum. Market depth shows strong buy support, with main players actively defending key price levels.

🎯Direction: Long

⚡Entry/Order: 1922 - 1941

🛑Stop Loss: 1905

🚀Target 1: 1980

🚀Target 2: 2015

🛡️Trade Management:

- Execution Strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss up to the entry price. Hold the remaining position to aim for Target 2; if the price retraces and breaks below the trailing stop, exit all positions.

Depth Logic: Price declines but open interest does not drop sharply, indicating it’s not just retail traders liquidating, but rather institutional accumulation at low levels. The negative funding rate persists, increasing short positions’ costs. If a rebound occurs, it could trigger a short squeeze, leading to a rally. The 1-hour EMA20 has flattened; if the price can stay above it, a short-term trend reversal is confirmed.

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