【$DEGO Signal】Pullback to buy + 1H strong consolidation, waiting for a second surge

The $DEGO 1H timeframe has experienced a massive rally and is currently in a strong consolidation phase at high levels. The price is ranging around 0.365, with the 1-hour RSI falling from overbought territory to a healthy zone, indicating that momentum is recovering. The 4H timeframe shows a towering pillar breaking through all moving averages, signaling a complete trend reversal. The current candlestick is a doji, indicating a bullish continuation pattern. Market depth data shows buy orders remain substantial, open interest stays stable, and the negative funding rate is as high as -0.5%, suggesting strong short squeeze expectations. The price is far from the 1-hour moving average, making chasing high risky; waiting for a pullback confirmation is necessary.

🎯Direction: Long (buy on pullback)

⚡Entry/Order: 0.332 - 0.340

🛑Stop Loss: 0.315

🚀Target 1: 0.385

🚀Target 2: 0.400

🛡️Trade Management:

- Execution Strategy: Split position into two batches, entering the first around 0.338 and the second around 0.333. After reaching Target 1, reduce position by 50% and move the remaining stop loss up to the entry price. If the price cannot break through 0.385 and shows signs of stagnation, consider partial profit-taking early.

(Depth Logic: The 4H timeframe shows a massive breakout, which is a clear signal of main force entering the market, definitely not retail behavior. On the 1H timeframe, buy depth remains dominant during the pullback, and the funding rate is negative, indicating that bears are still resisting stubbornly. This fuels the potential for a short squeeze. Currently, the price is consolidating above the 1-hour EMA20, which is a healthy correction. It is recommended to enter in multiple batches within the optimized entry zone to position for the second wave of rally. )

View real-time market 👇 $DEGO

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