【$BLESS Signal】Short Position + Overbought Correction After Short Squeeze

$BLESS After a single-day surge of 23.5%, the RSI has entered the overbought zone (72), and the depth imbalance is severe (-31.43%), with the sell wall far thicker than the buy wall. This is a typical aftereffect of a short squeeze, not a healthy trend initiation.

🎯 Direction: Short Position

Market Analysis: A single massive bullish candle on the 4H chart (volume increased by 100 times) directly triggered a short squeeze, but the buy/sell ratio remains below 0.5, indicating that the rally is mainly driven by short covering rather than active buying. Funding rates have turned positive (0.0367%), but open interest (OI) remains stable, with no signs of sustained capital inflow.

Logical Rationale: The current price is far from EMA20 (0.0050), indicating a need for a technical pullback. The depth chart shows a large accumulation of sell orders above 0.0060 (over 369K), forming a strong resistance. Without new capital influx and with weak buy-side depth (Bid/Ask Ratio 0.52), the probability of a direct breakout is very low.

Trading Plan: Avoid chasing the high. Wait for the price to retest key support zones (around the previous breakout level of 0.0048-0.0049) and observe for decreasing volume and RSI returning to neutral (around 50). Then, reassess whether low-risk long entries are possible. Currently, the risk far outweighs the reward. Strict risk management and stay on the sidelines.

Trade 👇 $BLESS

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