【$SPACE Signal】Long - Opportunity for a pullback confirmation after a violent surge on the 1H timeframe

$SPACE The 1H timeframe has just experienced a legendary surge, with a single-day increase of over 54%, currently consolidating strongly at high levels. A single massive bullish candle on the 4H chart directly broke through the long-term downtrend, signaling a trend reversal. Currently, the 1H candlestick is consolidating strongly above the EMA20 (0.0076), which is a typical bullish consolidation pattern, preparing for a second upward attack.

🎯Direction: Long (Long)

🎯Entry/Order: 0.00925 - 0.00935 (Reason: Pullback to the 1H EMA20 support zone and previous hour’s low)

🛑Stop Loss: 0.00895 (Reason: Break below the lower boundary of the strong consolidation platform on the 1H chart and previous support)

🚀Target 1: 0.00980 (Reason: Break through previous high resistance, aiming for the first resistance level after the surge)

🚀Target 2: 0.01050 (Reason: Extended target based on ATR calculation, corresponding to the 1.618 Fibonacci extension)

🛡Trade Management:

- Position Size Recommendation: Light position (Reason: Significant intraday gains, extremely high volatility, risk and reward coexist)

- Execution Strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the stop loss of the remaining position to the entry price (break-even). If the price strongly breaks through 0.00980, move the remaining stop loss to break-even to hold for greater profits.

Deep Logic: Data-wise, extremely strong. The 1H RSI is at 83, indicating overbought but not yet turning over, showing strong momentum. Market depth shows bid orders far exceed ask orders, with a depth imbalance of 19.87%, indicating strong buy support. Open interest (OI) remains stable after the price surge, suggesting it’s not just a short squeeze but possibly new long funds entering the market. Market logic indicates upward movement, combined with stable OI, leaning towards main force entering to defend the price. The current price, after a massive surge, refusing to retrace deeply, is a sign of strength.

Trade here 👇 $SPACE

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