【$CHIP Signal】Short squeeze setup, follow the trend to chase

$CHIP 1H level violent surge, the price has broken through the upper band of Bollinger Bands, RSI soared to 80.64, a clear overbought signal. But the 4H Bollinger Bands just opened, and the MACD histogram is still expanding, indicating bullish momentum has not exhausted. The key is the funding rate at -1.4413%, which makes short positions very costly, fueling the short squeeze.

🎯Direction: Long

⚡Entry: Enter immediately around the current price of 0.05638, or place orders in the range of 0.05610-0.05666.

🛑Stop loss: 0.05565

🚀Target 1: 0.05869

🚀Target 2: 0.05971

🛡️Trade management:
- Execution strategy: Half position at Target 1, remaining position’s stop loss moved up to entry price. If the price retraces to the lower end of the entry zone and breaks below, exit unconditionally.

Market depth shows buy orders are 16% thicker than sell orders, with strong willingness to absorb downward. The 1-hour trading volume has surged to dozens of times the previous average, driven by real capital. In a negative fee environment, the price rejects deep retracement, and the pressure of passive short covering is accumulating. Under this structure, the risk of contrarian top-ticking is much higher than riding the momentum for a quick rise. Risk-reward ratio of 2:1, worth a try.

Check real-time market 👇 $CHIP
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