【$BTC Signal】Pullback to go long + 4H strong support for rebound

$BTC 1H level is testing a key support area. The price has broken below the 1-hour moving average, but the 4-hour level is receiving strong support above the EMA50 (around 68976), and open interest remains stable, indicating no major liquidation by the main players. Currently, the 1-hour RSI has entered oversold territory (37.34), suggesting a technical rebound is needed. Market depth data shows substantial buy orders below, around 70178, forming the first line of defense for the bulls.

🎯 Direction: Long (buy on dip)

⚡ Entry/Order: 69477 - 70179

🛑 Stop Loss: 68900

🚀 Target 1: 71500

🚀 Target 2: 72800

🛡️ Trading Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% and move the stop loss to the entry price. The remaining position aims for Target 2 as the final take profit. If the price pulls back and breaks below the entry average, exit all positions.

Depth Logic: Despite the price decline, open interest remains stable, indicating that the downward movement is mainly driven by leveraged long liquidations rather than new short positions. Negative funding rates suggest market sentiment is bearish, but the price has stabilized above the 4H EMA50, creating a potential short squeeze condition. The 1-hour RSI shows divergence forming, and once buying interest kicks in, the rebound could be swift and strong. The zone between 69400-70200 combines the 4H trendline and market depth for an ideal ambush area.

View real-time quotes 👇 $BTC

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #GateforAI重磅上线