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$ETH Signal】1H Breakout and Pullback Confirmation, Short-term Short Squeeze
$ETH The 1H timeframe is consolidating strongly above the EMA20, just completing a test and pullback from the previous high of 1988. The 4H timeframe has already moved above the EMA20, forming a bullish engulfing candlestick pattern, but the EMA50 (1982) above acts as a short-term resistance. Price, open interest (OI Stable), and buy order depth show positive divergence, indicating that bears have not yet exerted force at the key resistance level, with potential for a short squeeze.
🎯Direction: Long (Long)
🎯Entry/Or