【$ORDI Signal】1H timeframe high-level oscillation, waiting for a pullback to go long

$ORDI 1H timeframe RSI soared to 80.67, buying momentum is exhausted, 4H timeframe RSI is even as high as 96.95, severely overbought. The 1H MACD histogram begins to shrink, bullish momentum slows down. Price surged to 9.7 then pulled back, currently oscillating around 8.5, selling pressure begins to appear above.

Price needs a healthy correction to release overbought pressure. The current risk-reward ratio is poor, chasing high directly is very risky.

🎯Direction: Wait for a pullback to go long

⚡Entry/Order: Consider entering in batches near the lower boundary of the 4.215 - 8.450 correction zone

🛑Stop loss: 3.201

🚀Target 1: 8.536

🚀Target 2: 8.571

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

The 4H Bollinger upper band has been pierced, price needs to revert to the middle band. Market depth shows sell orders are 13.65% thicker than buy orders, increasing short-term resistance. Funding rate is 0.5%, somewhat high, increasing long position costs but not at extreme levels. This position is more suitable for waiting for a decline after bearish momentum releases, rather than blindly chasing the rally.

Check real-time market 👇 $ORDI
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