$EGLD The 1H timeframe is forming a double bottom pattern around 4.43, with RSI showing a bullish divergence signal, indicating short-term selling pressure is weakening. Although the 4H timeframe is still in a downtrend channel, the price has retraced to the lower end of the recent consolidation zone, and open interest remains stable, with no signs of panic selling. The main force appears to be supporting the market.

🎯Direction: Long (Long)
🎯Entry/Order: 4.455 - 4.465 (Enter in batches near the current price)
🛑Stop Loss: 4.420 (Invalidates the double bottom structure if broken)
🚀Target 1: 4.55 (1H EMA50 and previous minor resistance level)
🚀Target 2: 4.62 (Downtrend line resistance on the 4H timeframe)
🛡️Trade Management:
- Position size suggestion: Light (Reason: The 4H trend has not fully reversed, indicating a left-side trading strategy)
- Execution strategy: Reduce position by 50% after reaching Target 1, and move the stop loss up to the entry price. Hold the remaining position for Target 2. If the price stalls around 4.55, consider exiting completely.
Deep logic: Price is declining but open interest remains stable, suggesting it is not a large-scale liquidation by the main force, possibly a passive stop-loss by bulls. The 1-hour RSI at 45.59 has moved out of the oversold zone and formed a bullish divergence, indicating buying momentum is building. Market depth shows substantial buy orders in the 4.45-4.46 range, providing immediate support. Combined with positive funding rates, a short squeeze condition is brewing.
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