【$SPX Signal】Long! 1H strong breakout, capital inflow driving short squeeze

$SPX The 1H timeframe just broke above the previous high of 0.3564 with increased volume and is now above the EMA20, forming a strong bullish structure. The 4H chart has closed positive for several candles, with the price breaking above the Bollinger Band upper band, indicating strong momentum. Although the 1H RSI has entered overbought territory, in the context of negative funding rate (-0.0185%) and stable open interest (OI), this appears more like a short squeeze triggered by short covering, with continued momentum.

🎯Direction: Long (Long)

🎯Entry/Order: 0.3610 - 0.3630 (Reason: Confirmed pullback after breakout, strong buy support at order book depth )

🛑Stop Loss: 0.3540 (Reason: Break below the previous large bullish candle on the 1H and EMA50 support )

🚀Target 1: 0.3750 (Reason: Based on recent wave height’s 1.382 Fibonacci extension level )

🚀Target 2: 0.3850 (Reason: Psychological round number and next resistance zone )

🛡️Trade Management:

- Position size suggestion: Light position (Reason: 1H RSI is overbought, increasing risk of chasing the high, but trend remains strong )

- Execution strategy: Use scaled profit-taking. Close 50% at Target 1, and move the remaining stop loss to the entry price. If the price strongly breaks through 0.3750, consider aiming the remaining position at 0.3850.

Depth logic: Market logic indicates “price rising, please consider whether the main force is entering or a short squeeze is happening based on open interest.” Currently, OI is stable, and the price surges in a negative funding rate environment, a typical short squeeze feature. The 1H bid-ask depth ratio (bid_ask_ratio_depth=1.12) shows strong support below. The 4H volume has significantly increased, confirming the breakout’s validity. The key risk is the 1H RSI at 77, indicating severe overbought conditions, so caution is needed for a quick pullback. Therefore, keep the position light and strictly set stop losses.

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