【$IRYS Signal】Short squeeze pullback, long positions hidden

$IRYS 1H timeframe surges then pulls back, the upper band of the 4H Bollinger Bands at 0.0338 is briefly pierced, current price at 0.03401 closely tests this resistance level. The 1H RSI at 74.87 indicates short-term overbought, but the 4H MACD histogram is still expanding, showing bullish momentum is not exhausted. Market depth shows buy orders are 57% thicker than sell orders, with clear capital support intentions.

This level is not for chasing the high, wait for a healthy pullback. Place buy orders in the 0.02946 - 0.03384 range, accumulating gradually. This is the upper boundary of the previous dense trading zone and also the support zone of the 1H EMA20.

🛑Stop-loss must be placed below 0.02816, which is the low point before the 4-hour candle pattern initiates; breaking below this destroys the structure.

🚀First target is 0.03405, near the previous high and also the resistance of the 1H Bollinger Band upper band. Once reached, reduce your position by half.

🚀Second target is 0.03418, breaking this level suggests the short squeeze trend may continue, allowing the remaining position to seek greater gains.

🛡️Trading management: - Execution strategy: After the price reaches 0.03405, reduce positions by 50% to lock in profits, and move the stop-loss of the remaining position up to the entry price. If the price directly falls back below 0.03384, exit proactively without waiting, and observe.

Funding rate is as high as 0.0301%, putting enormous pressure on short positions, which is potential fuel for a short squeeze. The 1-hour volume surged significantly during the rally, but recent one-hour buy volume has decreased, requiring a pullback to clear out floating positions. The 4-hour price has stabilized above all moving averages, indicating a medium-term bullish trend. The risk-reward ratio here requires patience—wait for a better price rather than chasing the high.

View real-time market 👇 $IRYS
---
Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#GatePreIPOs首发SpaceX #Gate13周年现场直击 #加密市场小幅下跌