【$SNX Signal】Bull-Bear Critical Point Battle! 1H Triangle Convergence Ending, Awaiting Trend Reversal

$SNX The 1H level price is oscillating narrowly between 0.294-0.298, forming the end of a triangle convergence, about to choose a direction. The 4H level price is supported near the EMA20 (0.2949), but the EMA50 (0.2963) above forms short-term resistance. Open interest remains stable, and negative funding rates suggest bears are dominant but the price is not falling, indicating potential short squeeze. Market depth shows buy orders accumulating below 0.29, while sell orders are relatively weak between 0.296-0.298, with less resistance to upward breakout.

🎯 Direction: Watchful (Pending Orders Breakout)

⚡ Trigger Condition: Price must strongly break through and stabilize above 0.298 (1H triangle upper boundary and recent high) to confirm bullish momentum.

🎯 Long Entry Pending Order: 0.299 (Reason: Breakout of 1H triangle upper boundary and previous high 0.298, confirming bullish initiation)

🛑 Stop Loss: 0.293 (Reason: Falling below 1H triangle lower boundary and EMA20 support, structure broken)

🚀 Target 1: 0.305 (Reason: Resistance at the previous wave high on the 4H level)

🚀 Target 2: 0.312 (Reason: Resistance at recent rebound high on the daily chart)

🛡 Trading Management:

- Position Size Suggestion: Light position (Reason: Direction unclear, follow through after breakout, typical of a right-side trade)

- Execution Strategy: Enter after price reaches 0.299. After reaching Target 1, reduce position by 50% and move stop loss up to entry price 0.299. Remaining position aims for Target 2. If price cannot stabilize above 0.298, cancel pending orders and abandon this trade.

Order Book Logic: Currently, bulls and bears are confronting at a critical level. 1H RSI is neutral (50.63), with no clear divergence. Open interest is stable, indicating neither side is withdrawing significantly. Key is the imbalance in order book (31.06%), with selling pressure concentrated below 0.296. If buy orders absorb this, resistance up to 0.30 becomes sparse, likely triggering a rapid rally. In a negative funding rate environment, price increases may trigger short covering, leading to a short squeeze.

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