【$CHIP Signal】Negative funding rate short squeeze, 1H level chasing longs

$CHIP 1H level surging higher then consolidating at high levels, RSI soaring to 75.97, buy orders breaking apart. The 4H Bollinger Band upper band at 0.0513 has been significantly broken through, price is operating outside the extreme channel. The 1H MACD histogram begins to shrink, bullish momentum diminishing. Funding rate at -1.4167%, short positions have high entry costs, risk of a short squeeze exists.
Order book buy depth exceeds sell depth by 6.98%, willingness to support lower levels is not weak. Such a price holding under negative funding rates is often the last stubbornness before the bullish trap is broken.

Current price at 0.05605, go long directly, set stop below 0.05532.
First target at 0.05835, reduce half position upon reaching.
Second target at 0.05936, exit all positions.

Open interest remains stable, no large-scale exit.
The 1H EMA20 at 0.0440 forms a dynamic support, providing buffer space with the current price.
Risk-reward ratio of 2.0 is acceptable, but caution is needed for quick retracements on the hourly chart.
In a negative funding rate environment, small price pullbacks may trigger a wave of short covering, further pushing prices higher.
The key is that stop-losses must be strictly enforced.

Check real-time quotes 👇 $CHIP
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