After experiencing a massive surge, the $WET 1H level is currently consolidating at high levels, with the price receiving initial support above the EMA20(1H). A legendary bullish candle on the 4H chart confirms a bullish trend, currently representing a healthy correction. The negative funding rate is as high as -1.49%, yet the price remains firm and open interest (OI) is stable. This is a typical short squeeze structure, with bears still paying high costs, accumulating strength for a secondary rally.

🎯Direction: Long (Long)
🎯Entry/Order: 0.1080 - 0.1100 (Reason: Support zone at 1H EMA20 and the 0.382 Fibonacci retracement of the previous rally)
🛑Stop Loss: 0.1045 (Reason: Break below the previous 1H low and the 0.5 Fibonacci retracement level, invalidating the bullish structure)
🚀Target 1: 0.1180 (Reason: Resistance at previous high and the 1.272 Fibonacci extension)
🚀Target 2: 0.1250 (Reason: 1.618 Fibonacci extension)
🛡Trade Management:
- Position suggestion: Light position (Reason: Daily gains have exceeded 26%, volatility is extremely high, risk is amplified)
- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss to the entry price. If the price strongly breaks through 0.1180, move the remaining stop loss to hold and aim for Target 2.
Deep logic: Volume on the 4H chart has surged, with buyers dominating, which is a clear signal of institutional entry. Although the 1H RSI is at a high level (77.67), it may remain subdued in a strong short squeeze market. The key point is whether the price can complete chip rotation above the 1H EMA20. Stable open interest (OI) rather than declining indicates that funds have not significantly withdrawn, and the bullish pattern remains intact. Market depth is balanced, with no significant selling pressure.
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