🚨 VELVET/USDT BREAKDOWN PULLBACK SETUP 🚨
VELVET is trading around $0.1511 after a brutal 1H breakdown from the $0.90 area, with price now trying to stabilize near the recent low around $0.1409.
The trend is clearly bearish, but after such a massive drop, chasing the current price is risky.
📊 SIGNAL
🔴 Bias: SHORT
📍 Entry: $0.155 – $0.175
🎯 TP1: $0.140
🎯 TP2: $0.120
🎯 TP3: $0.100
🛑 SL: Above $0.185
📉 The 1H structure remains heavily bearish. Price is trading far below the MA(25) around $0.404 and MA(99) around $0.630, while the MA(7) is also sitting above price.
The important area now is $0.155–$0.175.
If VELVET gets a relief bounce into this zone and sellers step back in, it could provide a cleaner short continuation setup instead of chasing the massive dump.
A break below $0.1409 would signal renewed weakness and could expose lower levels.
⚠️ But this is extremely volatile after a move of this size. If price reclaims $0.185 with strength, the short setup is invalid.
🔥 The dump already happened. Now we're waiting for the pullback.
Trade with a plan and manage your risk.
#VELVET #VELVETUSDT #Binance #Trading #Altcoins $VELVET
VELVET is trading around $0.1511 after a brutal 1H breakdown from the $0.90 area, with price now trying to stabilize near the recent low around $0.1409.
The trend is clearly bearish, but after such a massive drop, chasing the current price is risky.
📊 SIGNAL
🔴 Bias: SHORT
📍 Entry: $0.155 – $0.175
🎯 TP1: $0.140
🎯 TP2: $0.120
🎯 TP3: $0.100
🛑 SL: Above $0.185
📉 The 1H structure remains heavily bearish. Price is trading far below the MA(25) around $0.404 and MA(99) around $0.630, while the MA(7) is also sitting above price.
The important area now is $0.155–$0.175.
If VELVET gets a relief bounce into this zone and sellers step back in, it could provide a cleaner short continuation setup instead of chasing the massive dump.
A break below $0.1409 would signal renewed weakness and could expose lower levels.
⚠️ But this is extremely volatile after a move of this size. If price reclaims $0.185 with strength, the short setup is invalid.
🔥 The dump already happened. Now we're waiting for the pullback.
Trade with a plan and manage your risk.
#VELVET #VELVETUSDT #Binance #Trading #Altcoins $VELVET
