【$PLAY Signal】Short squeeze structure established, pullback presents a buying opportunity

$PLAY 4H timeframe price has broken out of the upper Bollinger Band, MACD histogram is expanding strongly, and open interest remains stable at high price levels, indicating clear signs of capital locking. The 1H RSI has touched 70 and did not deeply retrace; buying pressure continues to accumulate in the 0.0689-0.0690 range, and selling pressure is quickly absorbed.

🎯Direction: Long

⚡Entry/Order: Place orders in the 0.0557 - 0.0571 range

🛑Stop loss: 0.0522

🚀Target 1: 0.0768

🚀Target 2: 0.0866

🛡️Trade management:
- Execution strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to break-even. If the price falls back into the entry zone, exit automatically to protect capital.

Funding rate has turned positive and remains steady, combined with stable open interest, indicating a typical short squeeze brewing structure. The buy-side depth on the 1-hour chart far exceeds the sell side, with dense orders below 0.068, making it difficult for the price to fall sharply. The current risk-reward ratio exceeds 4, making it worthwhile to use a smaller stop loss to bet on the upward space opening.

View real-time market 👇 $PLAY
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