Trading Plan Long $VELVET
$VELVET just reclaimed the 1H EMA21 after a quick dip, showing buyers are still soaking.
Entry: $0.5950-$0.6150
Stoploss: $0.5700
Targets: $0.6350 / $0.6800 / $0.7500
VELVET bounced hard off the 1H EMA21, which held as support. The Bollinger Band width is contracting, suggesting a squeeze is building after the big pump yesterday. Funding is positive but not extreme, so longs aren't super crowded yet, but OI is up 68% in 24h, showing fresh money coming in. We want to catch the next leg up. Lose $0.5700, and this plan is dead.
Trade $VELVET here 👇
$VELVET just reclaimed the 1H EMA21 after a quick dip, showing buyers are still soaking.
Entry: $0.5950-$0.6150
Stoploss: $0.5700
Targets: $0.6350 / $0.6800 / $0.7500
VELVET bounced hard off the 1H EMA21, which held as support. The Bollinger Band width is contracting, suggesting a squeeze is building after the big pump yesterday. Funding is positive but not extreme, so longs aren't super crowded yet, but OI is up 68% in 24h, showing fresh money coming in. We want to catch the next leg up. Lose $0.5700, and this plan is dead.
Trade $VELVET here 👇