#Gate蓝龙虾重磅上线 【$BTC Signal】Pullback to Long + 1H Level Support Confirmation

$BTC The 1H timeframe is oscillating around a critical support zone, with the price retracing to the convergence area of the 4-hour EMA50 and 1-hour EMA20. Although the 4-hour chart shows sideways movement, the 1-hour chart indicates multiple buy orders around 69,400, forming a local support level. Open interest remains stable, with no signs of panic outflows. Coupled with negative funding rates, the risk of short squeeze is building.

🎯Direction: Long

⚡Entry/Order: 69264 - 69824

🛑Stop Loss: 68087

🚀Target 1: 71619

🚀Target 2: 72796

🛡️Trade Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% and move the stop loss to the entry price. Trail the remaining position for profit. If the price retraces and breaks below the entry zone, exit all positions.

Depth Logic: The order book shows significant buy depth in the 69,600-69,620 range, forming the first line of defense. The 1-hour RSI has rebounded from oversold territory to neutral, indicating momentum recovery. Importantly, during price declines, open interest has not decreased significantly, suggesting that current selling pressure is mainly from short-term profit-taking rather than major liquidation, providing a basis for a rebound. The 69,000-69,400 zone below has seen multiple heavy trading clusters over the past 24 hours, offering strong support.

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