【$SNX Signal】Short squeeze rebound continues, 1H pullback is a buy

$SNX The 1H timeframe is currently consolidating at a high level after a strong rally, with price staying close above the EMA20 (0.3156). The 4H timeframe has broken out of the previous consolidation zone with increased volume, forming a bullish engulfing pattern, indicating a trend reversal to bullish. The key points are: a high negative funding rate of -0.9857% and stable open interest (OI), which are typical fuel for a short squeeze, and the firm price action suggests shorts are being squeezed.

🎯Direction: Long (Long)

🎯Entry/Order: 0.328 - 0.332 (Reason: The EMA20 support zone on the 1H chart, also the Fibonacci 0.382 retracement level of the previous rally )

🛑Stop Loss: 0.319 (Reason: Falling below the 1H EMA50 support and the previous 4H candle low at 0.326 invalidates the short squeeze logic )

🚀Target 1: 0.350 (Reason: Intraday previous high resistance level, also the initial target on the 4H chart )

🚀Target 2: 0.370 (Reason: Resistance at the lower boundary of the previous daily consolidation zone, extended target based on ATR measurement )

🛡️Trade Management:

- Position size suggestion: Standard lot (Reason: 4H and 1H resonance indicating bullishness, clear short squeeze logic, risk-reward ratio >1.5 )

- Execution strategy: After reaching 0.350, reduce position by 50% and move stop loss up to entry price 0.328. Hold remaining position for target 2; if price falls below the trailing stop, exit all.

Deep logic: Market logic indicates “price rising, consider whether it’s driven by main players entering or shorts being squeezed out.” Data supports the latter: price surged 8.91%, but OI remained stable rather than spiking, and the negative funding rate is extremely high, clearly pointing to a short covering-driven short squeeze. The 1H RSI (62.41) is healthy, not overbought, with room for further upside. Order book depth (bid_ask_ratio_depth: 1.96) is significantly stronger on the bid side, with dense support below.

View real-time market 👇 $SNX

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #Gate广场发帖领五万美金红包