【$DYDX Signal】1H breakout pullback confirmation, main force supports the market, targeting short-term rebound

$DYDX The 1H timeframe has completed a consolidation bottom in the 0.088-0.091 range, with the latest 1H candle showing increased volume and breaking above EMA20(0.0902), indicating a short-term momentum reversal. Although the 4H timeframe is still in a downtrend channel, the price has moved away from the lows, and open interest remains stable, suggesting weakening short covering pressure and signs of main force supporting the market. The order book shows buy orders significantly thicker than sell orders, with an imbalance of 7.38%, and strong support below.

🎯Direction: Long (Long)

🎯Entry/Order: 0.090 - 0.091 (Reason: 1H closes above EMA20 and breaks through a recent minor consolidation level)

🛑Stop Loss: 0.087 (Reason: Break below previous lows and the lower boundary of the dense trading zone, ATR-based stop loss)

🚀Target 1: 0.094 (Reason: Previous high resistance level on the 4H timeframe)

🚀Target 2: 0.097 (Reason: 1.618 Fibonacci extension level and previous accumulation zone)

🛡️Trading Management:

- Position size suggestion: Light (Reason: 4H trend has not fully reversed, indicating a counter-trend rebound)

- Execution strategy: When the price reaches 0.094, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 0.090. If the price strongly breaks through 0.094 and stabilizes, hold the remaining position towards 0.097.

Order book logic: The price rebounded from 0.088, but open interest remains stable, indicating that the move is not solely driven by short covering, possibly new long positions entering. There are over 5 million buy orders at 0.089-0.088, forming a solid support wall. Coupled with low funding rates, this suggests potential for short squeeze.

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