【$DEGO Signal】Long - 1H pullback confirmation, main force clearly intends to support the market

$DEGO The 1H timeframe has experienced a significant rally and is now consolidating strongly above a key support level. The 4H timeframe shows a pullback after a volume breakout, with the price holding steady above the short-term moving averages, indicating the bullish pattern remains intact. The current negative funding rate and stable open interest suggest that bears are still paying fees, and the risk of a short squeeze persists.

🎯Direction: Long

⚡Entry/Order: 0.6598 - 0.6768

🛑Stop Loss: 0.5807

🚀Target 1: 0.8690

🚀Target 2: 0.9651

🛡️Trade Management:

- Execution Strategy: After the price reaches the first target at 0.8690, reduce position by 50% to lock in profits, and move the stop loss on the remaining position to the entry price. If the price fails to break above the previous high at 0.7555 and falls back into the entry zone, consider it a weak signal and exit early.

Depth Logic: In the past 24 hours, the price has increased by over 16%, but open interest remains stable. This is not just retail FOMO; it appears to be institutional funds absorbing profit-taking orders. The 1-hour RSI has healthyly pulled back from overbought levels to around 69, preparing for another upward move. Market depth shows a large accumulation of buy orders between 0.737 and 0.738, forming a solid support wall, while a large sell order exists at 0.7395. Once this is absorbed, the upward potential opens. Coupled with the negative funding rate, this is a typical “bull trend + short paying fees” short squeeze structure.

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