【$PIPPIN Signal】Short squeeze continues, 1H pullback confirmation followed by breakout attempt

$PIPPIN The 1H timeframe is consolidating strongly above the EMA20, while the 4H timeframe is in the pullback confirmation stage after a volume breakout. The price made a healthy correction after reaching a high of 0.6246, and the current 1H RSI (62.88) has retreated from the overbought zone, preparing for another upward move. The negative funding rate (-0.0195%) combined with firm price action indicates a typical short squeeze structure, and stable open interest (OI) suggests bulls have not exited. The order book shows significantly deeper buy-side depth than sell-side (imbalance of 10.74%), with strong support below.

🎯Direction: Long (Long)

🎯Entry/Order: 0.6020 - 0.6080 (Reason: 1H EMA20 dynamic support zone and dense area of previous hour’s lows )

🛑Stop Loss: 0.5760 (Reason: Break below the start of the 4H bullish candle and previous structural lows, ATR-based stop loss )

🚀Target 1: 0.6240 (Reason: Previous high resistance, breakout confirms trend continuation )

🚀Target 2: 0.6580 (Reason: 4H previous high and 1.618 Fibonacci extension level )

🛡Trade Management:

- Position size suggestion: Standard position (Reason: Clear upward trend on 4H, healthy 1H structure, favorable risk-reward ratio )

- Execution strategy: After reaching 0.6240, reduce position by 50% and move stop loss to entry price. Hold remaining position for the second target, and consider adding if price pulls back to EMA20 and then advances again.

Depth logic: In the past 24 hours, a 23.5% increase with volume and price rising together, indicating strong institutional activity. Consecutive bullish candles on the 4H with high volume signal a strong start. Although the 1H RSI touched 80 overbought, consolidation absorbed selling pressure rather than deep decline, showing strength. Open interest remains stable after price rise, indicating not just short covering but new long positions entering. In a negative funding rate environment, the price does not fall, further reinforcing the short squeeze expectation.

Trade here 👇 $PIPPIN

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