【$MLN Signal】Negative fee rate short squeeze structure, waiting for a pullback to go long

$MLN Funding rate -0.1736%, bears continue to pay, 1H Bollinger Bands narrowing, with the midline at 2.8495 forming short-term support. MACD 4H bullish histogram still expanding, but the daily chart surged then pulled back to 3.148, with deep imbalance -4.45% indicating slightly weak buying. The current price of 3.148 is slightly above the suggested entry zone upper boundary, directly chasing orders offers a very low risk-reward ratio. A more prudent approach is to wait for the price to retest the 2.943-3.132 range before entering, with clear stop-loss and defined targets at that time.
🎯Direction: Long (Pending order)
⚡Entry/Pending order: Long in the 2.943 - 3.132 range
🛑Stop-loss: 2.919
🚀Target 1: 3.149
🚀Target 2: 3.161
🛡️Trade management: - After the pending order is filled, if the hourly RSI stabilizes above 50 and volume increases, hold. Reduce 50% at Target 1, move stop-loss to the entry price. If the price drops below 2.919, exit immediately.
Negative fee rate and open interest not decreasing, short covering demand still exists, but better entry points for risk-reward are needed.
Check real-time market 👇 $MLN
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