【$POLYX Signal】Short squeeze in progress, buy the dip

$POLYX After a violent surge on the 1H timeframe, the price has broken out of the upper Bollinger Band, RSI has soared to 88, indicating short-term overbought conditions. However, the 4-hour MACD histogram is still expanding strongly, open interest remains stable, and the funding rate is as high as -1.88%, forming a typical short squeeze structure.
🎯Direction: Long
⚡Entry/Order: 0.04695 - 0.04816
🛑Stop Loss: 0.04660
🚀Target 1: 0.05439
🚀Target 2: 0.05751
🛡️Trade Management:
- Execution Strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to break-even. If the price falls back to the entry level, automatically exit to protect capital.
Order book data shows buy orders are significantly thicker than sell orders, with an imbalance exceeding 9%, indicating clear capital support intentions. Despite divergence in volume and price on the 1-hour chart, open interest has not decreased, suggesting the bulls are not leaving but are rotating positions at high levels. In this negative funding rate environment, the price holding firm often signals ample fuel for short covering. The risk-reward ratio is close to 4:1, making it worthwhile to use a small stop loss to bet on the continuation of the short squeeze.
View real-time market 👇 $POLYX
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