【$BLESS Signal】Short squeeze in progress, pullback is an opportunity

$BLESS 1H level breaks above the Bollinger Band upper band, RSI surges to 83, 4H level also stands above the upper band. Buying depth accumulates around 0.008704, but selling pressure above quickly thickens from 0.008738, forming a pressure wall. Funding rate turns positive, open interest remains stable, bulls are still paying a premium to maintain their positions.

🎯Direction: Pullback to go long

⚡Entry/Order: Within the range of 0.006814 - 0.008660, wait for the price to pull back to around the 1H EMA20 line at 0.0075 or the 4H EMA50 line at 0.0062, then enter in batches.

🛑Stop loss: 0.006169

🚀Target 1: 0.008733

🚀Target 2: 0.008768

🛡️Trade management:
- Execution strategy: After reaching Target 1, reduce position by 50%, and move stop loss to break-even. If the price falls back into the entry zone, exit automatically to protect principal.

In such highly volatile assets, chasing high is extremely risky. Currently, the order book depth is unbalanced, with a clear sell wall. A direct surge upward may encounter selling pressure. A safer approach is to wait for a healthy pullback, entering during moments when market sentiment cools. The 4H MACD is still expanding, indicating the trend is not bad, but the extreme overbought condition on the 1H chart needs time to digest. The risk-reward ratio at this chasing-high position is poor; patience is needed until the market offers a better price.

Check real-time quotes 👇 $BLESS
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