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

$BEL The 1H timeframe has entered a high-level consolidation after a massive rally, with the price staying close above the EMA20(1H), indicating strong consolidation. A single towering candle on the 4H chart has directly reversed the downward trend, and the current price has broken above the nearly one-month trading range upper boundary, turning the trend bullish. The negative funding rate is as high as -0.3568%, but open interest remains stable and prices are firm, typical of a short squeeze structure, with shorts still struggling to hold.

🎯Direction: Long (Long)

🎯Entry/Order: 0.1175 - 0.1185 (Reason: 1H EMA20 dynamic support coincides with previous breakout platform zone)

🛑Stop loss: 0.1148 (Reason: Break below the previous 1H candle low and the dense trading zone lower boundary)

🚀Target 1: 0.1229 (Reason: Breakout above previous high resistance level)

🚀Target 2: 0.1280 (Reason: Based on ATR extension at 1.618 and previous high area on the daily chart)

🛡️Trade management:

- Position size suggestion: Light position (Reason: Intraday gain has exceeded 26%, volatility is high, risk of profit-taking)

- Execution strategy: After the price reaches 0.1229, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.1180. If the price cannot hold above 0.1200 and falls back to the entry zone, exit unconditionally.

Deep logic: Market logic indicates a price increase. Data shows that the buy ratio on the 4H chart remains above 0.5, with strong active buying force. Although RSI(1H) is at a high of 74.59, it can sustain longer in a short squeeze environment. The order book depth shows a large sell order at 0.1200(219402), which is a key psychological level. Once broken through by buying, it will trigger further short covering and accelerate upward movement. Open interest remains stable rather than decreasing, indicating this is not just a spot pump, but continuous involvement of derivatives funds.

View real-time market 👇 $BEL

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