【$ESP Signal】Pullback to Long! 1H level retest confirmed, strong signs of main force supporting the market

$ESP The 1H level has experienced a sharp rally yesterday and is now in a healthy retracement phase. The price has fallen back above the 4H EMA20 (0.0756), and the 1H RSI (45.49) is approaching the oversold zone, indicating short-term selling pressure is easing. The key points are: open interest (OI) remains stable, the price decline has not triggered panic selling, and the order book buy depth (bid_ask_ratio_depth: 1.05) is slightly in favor, suggesting that the main force may be supporting the market from below. Negative funding rate (-0.0074%) indicates bearish pressure, and a rebound could trigger a short squeeze.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0760 - 0.0765 (Reason: Retest of 4H EMA20 support zone and the first consolidation platform after yesterday’s rally )

🛑Stop Loss: 0.0745 (Reason: Break below 4H EMA20 and the previous 4H candle low at 0.0747, structure broken )

🚀Target 1: 0.0800 (Reason: 1H previous high resistance and EMA50 pressure level )

🚀Target 2: 0.0830 (Reason: Near yesterday’s 4H high, also the 1.618 Fibonacci extension level )

🛡Trade Management:

- Position suggestion: Light position (Reason: Overall still in a wide-range 4H consolidation with extremely high volatility )

- Execution strategy: After entering, if the price quickly rises to target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price. If the price fails to break 0.0780 and falls below 0.0760 again, consider exiting early.

Depth logic: Market logic suggests ‘price rising, please consider open interest for confirmation’. Currently, OI is stable while the price retraces, indicating more likely a ‘shakeout’ after main force enters rather than a ‘bearish sell-off’. There is a large accumulation of buy orders between 0.0768-0.0769 (over 100,000 contracts), forming a strong defense line. The 1H RSI bottom divergence is brewing; if the price stabilizes and closes with a bullish candle in this area, it will be a clear short-term bullish signal.

Check real-time market 👇 $ESP

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