【$WET Signal】High-level betting on shorting, beware of RSI overheating

$WET After a volume surge and consolidation at a high level on the 1H timeframe, the upper band of the 4H Bollinger Bands was directly broken through, with the price currently around 0.151. RSI on the 1H chart reads 76, and on the 4H chart it is even as high as 87, indicating buying momentum has entered an extremely crowded zone. The 1H MACD histogram has begun to contract, forming an initial divergence with the new price high. Market depth data shows buy orders are 2.36 times the sell orders, but the funding rate is as high as -0.48%, putting enormous cost pressure on short positions and posing a short squeeze risk.

Price has stabilized above 0.15028, and a long position is recommended to enter directly.

🛑Stop-loss must be placed below 0.10298.

🚀First target set at 0.11718.

🚀Second target pushed up to 0.12191.

🛡️Trading management:
- Execution strategy: After the price reaches 0.11718, halve the position, and move the stop-loss of the remaining position up to the entry price. If the price cannot hold above 0.150 and falls back, consider exiting early.

This structure of negative funding rate combined with high buy order depth usually indicates passive acceptance by bears. Once the price rejects a deep pullback, it can easily trigger a new short squeeze. However, the current RSI is in an extreme position, making chasing high less comfortable and more suitable for existing positions to gamble on an upward inertia rather than opening new heavy positions.

Check real-time market 👇 $WET
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