【$WET Signal】1H pullback confirmation, negative fee rate short squeeze battle

$WET The 1H timeframe experienced a sharp rise yesterday and is now entering a healthy pullback. Currently, the price is consolidating around 0.1048, with the 1H EMA20 (0.1034) providing dynamic support. After a volume breakout on the 4H timeframe, the current candlestick is a high-level doji star, indicating a strong consolidation pattern. The key point is: the negative fee rate is as high as -0.3339%, yet the price remains firm and open interest (OI) is stable. This is a typical short squeeze (Short Squeeze) setup, with very high short positions cost.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1045 - 0.1050 (Near current price)

🛑Stop loss: 0.1008 (Break below the previous 4H low and psychological level 0.1010)

🚀Target 1: 0.1128 (Previous high and 4H resistance)

🚀Target 2: 0.1220 (Near historical high)

🛡️Trade management:

- Position suggestion: Light position (Reason: Intraday volatility is high, and the 4H has already surged significantly, so profit-taking should be considered)

- Execution strategy: When the price reaches 0.1128, reduce position by 50%, and move the remaining stop loss up to the entry price of 0.1045. If the price strongly breaks through 0.1128 and stabilizes, hold the remaining position towards target 2.

Deep logic: Market logic suggests ‘price rises, combined with position volume analysis’, and since OI remains stable, it indicates that the rise is not solely due to short covering, but possibly new long capital entering to support the market. The 1H RSI (55.69) is in a healthy zone, leaving room for further upward movement. The order book shows buy depth (Bid) slightly thicker than sell (Ask Ratio 1.08), with dense buy orders around 0.1046, forming immediate support. The core battle point is the short squeeze under high negative fee rates; any small upward move could trigger chain stop-losses among shorts.

View real-time quotes 👇 $WET

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