【$MYX Signal】Long - 1H level violent surge followed by strong consolidation, waiting for a second breakout

$MYX The 1H level has experienced over 80% of a violent rally and is currently consolidating strongly at a high level. The last 1H candlestick closed at 1.719, close to the intraday high, with bid depth (Bid) far exceeding ask depth (Depth Imbalance: -37.66%), indicating that major funds have not exited but are actively supporting the price and accumulating at this level. A single giant bullish candle on the 4H chart has established a reversal trend, although EMA50 (2.21) is still far away, the 1H EMA20 (1.1258) has already formed a strong dynamic support. Currently, the 1H RSI is as high as 85.58, in overbought territory, but the Hot Coin characteristic allows it to continue running in the overbought zone, with the key being whether the price can hold the high level. Open interest (OI) remains stable, fees are normal, and there are no signs of major sell-offs. Strategy: Do not chase longs at the current absolute high; wait for a healthy pullback or a confirmed strong breakout before entering.

🎯 Direction: Long (buy on pullback or chase on breakout)

🎯 Entry/Order:

1. 【Buy on pullback】$1.65 - $1.68 (Reason: First consolidation top and psychological support after the 1H rally)

2. 【Chase on breakout】$1.75 (Reason: Break above the current consolidation zone and intraday high, confirming a new upward trend)

🛑 Stop loss: $1.58 (Reason: Break below the 1H EMA20 support and the 50% retracement of the previous rally)

🚀 Target 1: $1.90 (Reason: Previous high resistance and psychological round number)

🚀 Target 2: $2.20 (Reason: Lower boundary of the previous accumulation zone on the 4H chart)

🛡 Trading management:

- Position size suggestion: Light position (Reason: The intraday increase is large, volatility is extremely high, risk is amplified)

- Execution strategy: If entering according to plan 1, reduce position by 50% after reaching Target 1, and move the remaining stop loss to the entry price. If entering according to plan 2, adopt a more aggressive trailing stop loss using the 1H candlestick low as the trail. If the price cannot quickly move away from the cost area (within 2 candlesticks after entry), consider closing and observing.

Depth logic: The order book shows heavy bid accumulation in the 1.71-1.73 range, with relatively sparse ask orders, indicating potential upward short squeeze. The volume on the 1H chart significantly expands during upward movement and sharply contracts during consolidation, which is a healthy upward continuation pattern. Market logic suggests "price rising, consider position size based on open interest," currently OI is stable, not a sign of a bearish squeeze, but rather a controlled move by new longs entering. Although RSI is high, combined with strong consolidation, it can wait for RSI to recover to around 70 before further upward attack.

Check real-time market 👇 $MYX

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