【$CHIP Signal】Short squeeze continues, dip to go long

$CHIP 1H timeframe high-level strong consolidation, 4H Bollinger Bands fully open, price stabilizes above the upper band. MACD double-cycle golden cross, but 1H histogram begins to contract, momentum slightly slows.

Funding rate -0.0528%, short positions have high holding costs, short squeeze fuel is abundant. Market buy-side depth is unbalanced at 23%, strong willingness to buy below.

🎯Direction: Pullback to go long

⚡Entry: Enter directly at current price around 0.0617, or place a pending order at 0.0615.

🛑Stop loss: Below 0.06095, breaking below would break the structure.

🚀Target 1: 0.06428, resistance near previous high.

🚀Target 2: 0.06539, extension of 1H Bollinger upper band.

🛡️Trade management:
- Execution strategy: Half position at Target 1, remaining to protect capital. If price dips into entry zone and consolidates sideways for over two hours, actively exit and observe.

In a negative fee environment, open interest remains stable, and shorts are passive. Although 1H RSI is at 75, high, it’s not an absolute top signal in a strong trend. Key is whether the price can hold above 0.061 platform; if it does, it likely gathers strength for another surge. With this market depth, the probability of a direct break through is low, more likely to be a consolidation digesting floating positions.

Check real-time market 👇 $CHIP
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