【$M Signal】1H pullback confirmation, sniper break above previous high

$M After a rally on the 1H timeframe, the price pulls back, trading sideways around 4.12, with the upper band of the 4H Bollinger Bands at 4.2685 acting as direct resistance. The 1H MACD histogram begins to shrink, but the fast and slow lines are still above zero, indicating that bullish momentum has not yet exhausted. Market depth is imbalanced at -39.55%, with sell orders clearly thicker, so short-term upward movement requires more buying pressure.

The current price is near the upper boundary of the suggested entry zone; chasing higher directly carries higher risk. A better strategy is to wait for a healthy pullback.

🎯Direction: Buy on pullback (place orders)

⚡Entry/Order placement: Place a buy order around 3.85, which coincides with the 1H EMA20 and a dense area of previous trading volume support.

🛑Stop loss: Strictly below 3.4102.

🚀Target 1: First target at 4.1083, the recent upper boundary of consolidation.

🚀Target 2: After breaking through, the second target is 4.3410, corresponding to the previous 1H high and the extended area of the upper Bollinger Band.

🛡Trade management: - Execute strategy: Reduce half of the position when the price reaches 4.1083, and move the remaining stop loss up to the entry price. If the price cannot hold above 4.0, consider exiting early.

The 4-hour MACD shows a golden cross with expanding histogram, indicating the trend remains bullish. However, the 1H RSI hovers around 65, not in overbought territory, leaving room for a pullback. The funding rate at 0.0252% is positive but not extreme, with no obvious short squeeze risk. Open interest remains stable, suggesting this rally is supported by genuine funds rather than purely short covering. The risk-reward ratio at the current order levels is more favorable, avoiding passive chasing.

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