【$CHIP Signal】Long position after strong breakout on 1H timeframe, confirmation of pullback

$CHIP The 1H timeframe price has strongly broken above the upper Bollinger Band, current price at 0.05045 is close to and above the 4-hour upper band at 0.0442, buy order depth imbalance reaches -17.91%, sell orders are relatively thin. The 1-hour MACD histogram continues to expand, indicating a clear upward trend.

🎯Direction: Long

⚡Entry/Order placement: Enter directly at the current price of 0.05045, or place staggered orders in the 0.05020 - 0.05070 range.

🛑Stop loss: 0.04979

🚀Target 1: 0.05252

🚀Target 2: 0.05343

🛡️Trade management:
- Execution strategy: Reduce half of the position after the price reaches 0.05252, and move the remaining stop loss up to the entry price. If the price fails to hold above 0.05020 and falls back, execute according to stop-loss discipline.

Funding rate of 0.005% indicates bullish sentiment is still present but not overheated. The 1-hour RSI has risen to 75.92, suggesting short-term consolidation is needed, but considering buy order depth, the pullback may be limited. A massive bullish candle on the 4-hour chart sets the tone; currently in a high-level consolidation after breakout, with a risk-reward ratio close to 2. This position is worth using a smaller stop loss to bet on the inertia of an upward move.

View real-time market 👇 $CHIP
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