【$DEEP Signal】Extremely overbought, negative funding rate supports the market, waiting for a pullback or breakout confirmation

$DEEP RSI 1H soared to 88.96, 4H also reached 83.42, clear gap in buying orders. Funding rate is -0.0472%, a negative value, indicating long positions have low costs. The last 4H massive bullish candle (540 million) directly broke the previous high of 0.0336, with the current price at 0.0392, already out of the suggested range. High-level chasing longs has a poor risk-reward ratio, but the short positions haven't collapsed either. Currently, it's more suitable to place orders and wait for a pullback or breakout confirmation.
🎯Direction: Watch (Place orders)
⚡Entry/Order: 0.0348 - 0.0361 buy on pullback; or chase longs if it breaks 0.0413
🛑Stop loss: 0.0308
🚀Target 1: 0.0348
🚀Target 2: 0.0361
🛡️Trade management: - After entering on pullback, if it rebounds to Target 1, reduce position by 50%, move stop loss to break-even. If it falls below 0.0348, exit.
Open interest has not changed significantly, but the sell order depth ratio is 1.43, indicating there are still buyers below. Personally, I prefer to wait for a dip near the Bollinger middle band (0.0334) before acting; current risk-reward ratio is not ideal.
Check real-time market 👇 $DEEP
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