【$SQD Signal】1H Overbought Pullback, Short Entry

$SQD 1H RSI soared to 81, the price quickly retreated after breaking above the upper Bollinger Band, with buying depth showing a gap above 0.0354. The 4H MACD shows a bullish crossover but the momentum bars are beginning to shrink, and the price has moved far away from EMA20, indicating obvious short-term profit-taking pressure.

🎯Direction: Short

⚡Entry: Short at the current price of 0.0354; aggressive traders can place a buy limit at 0.0356 for additional positions.

🛑Stop Loss: 0.0367

🚀Target 1: 0.0330

🚀Target 2: 0.0313

🛡️Trade Management:
- Execution Strategy: Reduce position by half after reaching 0.0330, and move the remaining stop loss down to the entry price. If the price rebounds and breaks above 0.0360, exit unconditionally.

Funding rate is -0.19%, but open interest remains stable. This rally lacks sustained growth in open interest. The 1-hour volume sharply declines after the surge, with active sell orders increasing to 55%. The 0.0330 level below is the low of the previous hour’s candle and near the middle band of the 4H Bollinger Bands, indicating a technical pullback is needed. The risk-reward ratio is close to 1:3, making this trade worth a try.

View real-time market 👇 $SQD
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