【$MIRA Signal】Short squeeze pullback, targeting secondary impulse

$MIRA 1H timeframe is currently undergoing a healthy pullback after a historic short squeeze surge, with the price supported near the key EMA20 (1H). On the 4H timeframe, a strong bullish candle confirms a trend reversal. The current negative funding rate is as high as -0.71%, indicating that bears are still paying high costs, setting the stage for a second upward move. Market depth shows buy orders (around 0.11) significantly thicker than sell orders, indicating strong institutional support.
🎯Direction: Long (Long)
🎯Entry/Order: 0.1100 - 0.1115 (Enter near current price or wait for a slight pullback for confirmation)
🛑Stop Loss: 0.1050 (Break below the previous 1H candle low and psychological level 0.11, indicating structural breakdown)
🚀Target 1: 0.1180 (Near previous high, first resistance)
🚀Target 2: 0.1250 (Based on ATR and previous wave Fibonacci extension levels)
🛡️Trade Management:
- Position size suggestion: Light position (Reason: Extremely high volatility, daily range exceeds 30%, strict risk control needed)
- Execution strategy: After reaching Target 1 at 0.1180, reduce position by 50%, and move the remaining stop loss up to entry price 0.1115. If the price strongly breaks through 0.1180 and stabilizes, move the remaining stop loss up to 0.1150 to aim for higher targets.
Depth logic: Open interest (OI) has remained stable over the past 4 hours. The price has pulled back from the high but did not trigger large-scale long liquidation, indicating a strong consolidation. The 1H RSI (73.8) is high but can sustain longer in a short squeeze environment. Key support is around 0.109-0.111 (1H EMA20 and previous breakout platform), which is an excellent second entry point. The negative funding environment persists, and any upward movement will squeeze out shorts, creating positive feedback.
Check real-time market 👇 $MIRA
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