【$STEEM Signal】Long - 1H Pullback Confirmation, Negative Fee Rate Short Squeeze Play

$STEEM The 1H timeframe is strongly oscillating above the EMA20 (0.0641), just completing a pullback test of the previous high at 0.06836. The 4H timeframe has broken through the long-term downtrend line, forming a bottom structure. Currently, the price is above the EMA20 (0.0586), indicating a trend reversal to bullish. The negative fee rate is as high as -0.37%, with stable open interest, indicating potential for a short squeeze, making it a typical short-term sniper opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0648 - 0.0652 (Reason: 1H EMA20 dynamic support zone, concentrated buy orders on the order book )

🛑Stop Loss: 0.0632 (Reason: Break below the 1H previous low and the bottom of the 4H candlestick body, ATR-based stop loss )

🚀Target 1: 0.0685 (Reason: Previous high resistance level, also the initial target on the 4H timeframe )

🚀Target 2: 0.0710 (Reason: Above the 4H previous high at 0.0705, 1.272 Fibonacci extension level )

🛡️Trade Management:

- Position size suggestion: Light position (Reason: Hot Coin volatility is intense, risk per trade should be controlled )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining position’s stop loss up to the entry price of 0.0648. If the price strongly breaks through 0.0685 and stabilizes, hold the remaining position to aim for Target 2.

Deep logic: After forming a double bottom near 0.058 on the 4H timeframe, volume breakout indicates strong buying power. The 1H RSI (54.05) is in a healthy zone with room to move higher. Order book depth shows large buy orders (0.0648-0.0649), forming a support wall. In a negative fee rate environment, the price is not falling but stabilizing, indicating high short-term holding costs for bears. A rise could trigger a short squeeze. Stable open interest suggests it’s not purely retail chasing highs; there is institutional participation.

Check real-time market 👇 $STEEM

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