【$OPN Signal】Long! Strong breakout on the 1H timeframe followed by consolidation, building momentum for a second push

$OPN On the 1H timeframe, a large volume push created a long bullish candle between 22:00-23:00, breaking above the previous high of 0.6899. Currently in a high-level consolidation phase to digest gains. The 4H chart has closed with consecutive bullish candles, indicating an upward trend, but the current price is far from the moving averages, so a pullback or secondary confirmation after consolidation on the 1H timeframe is needed. Market depth shows heavy sell orders above 0.718, while buy orders are densely supported in the 0.714-0.716 range. Short-term bulls and bears are fiercely competing.

🎯 Direction: Long (Long)

🎯 Entry/Order: 0.712 - 0.715 ( Reason: Retracement confirmation zone after 1H breakout, close to dense buy orders in the order book )

🛑 Stop-loss: 0.695 ( Reason: Break below the start of the 1H large bullish candle and previous consolidation high )

🚀 Target 1: 0.735 ( Reason: Resistance area below the previous high of 0.746, initial profit-taking )

🚀 Target 2: 0.750 ( Reason: Whole number level and 1.618 Fibonacci extension )

🛡️ Trading Management:

- Position size suggestion: Light position ( Reason: After a significant rally, chasing higher increases risk; strict position control is necessary )

- Execution strategy: Once the price reaches 0.735, move the stop-loss up to the entry price of 0.715 to lock in profits. Remaining position targets 0.750. If the price stalls near 0.735 or shows a 1H top divergence, consider taking full profits.

Market depth logic: The open interest over the past 4 hours (OI) remains stable. After a large price surge, there has been no significant pullback, indicating that bullish funds have not exited en masse, which suggests a healthy correction. The 1H RSI is at 66.57, in a strong zone but not overbought, leaving room for further upside. The order book imbalance is -18.76%, with slightly more sell pressure than buy pressure, explaining the current consolidation at high levels. However, buy support below is still solid, and after digestion, further upward movement is expected.

View real-time market 👇 $OPN

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