🚀 $VELVET
— LONG SETUP 🟢
$VELVET is cooling off after an explosive rally, but the structure still favors the bulls. The recent pullback looks more like profit-taking than a trend reversal, and buyers are beginning to defend the current zone.
📈 Trade Setup
Entry: $0.55 – $0.57
Stop Loss: $0.51
🎯 TP1: $0.63
🎯 TP2: $0.71
🎯 TP3: $0.88
⚠️ Move SL to Breakeven once TP1 is reached.
🔍 Market View
After printing a local high near $0.8887, $VELVET experienced a healthy correction and is now trading around $0.5622. The 1H chart shows RSI cooling into a potential rebound zone, while the overall market structure remains bullish.
Volume expansion during the breakout confirms strong participation, and as long as price holds above the current support area, another leg higher remains on the table.
💡 Why I'm Watching This
✅ Strong breakout from the accumulation range
✅ Higher-timeframe trend still intact
✅ Healthy pullback after a parabolic move
✅ Attractive risk-to-reward from current levels
The next few candles could decide whether VELVET reloads for another move toward the highs or spends more time consolidating.
🔥 Are bulls preparing for a second wave toward $0.88+, or is a deeper correction coming first? Drop your target in the comments!
#VELVET #cryptotrading
— LONG SETUP 🟢
$VELVET is cooling off after an explosive rally, but the structure still favors the bulls. The recent pullback looks more like profit-taking than a trend reversal, and buyers are beginning to defend the current zone.
📈 Trade Setup
Entry: $0.55 – $0.57
Stop Loss: $0.51
🎯 TP1: $0.63
🎯 TP2: $0.71
🎯 TP3: $0.88
⚠️ Move SL to Breakeven once TP1 is reached.
🔍 Market View
After printing a local high near $0.8887, $VELVET experienced a healthy correction and is now trading around $0.5622. The 1H chart shows RSI cooling into a potential rebound zone, while the overall market structure remains bullish.
Volume expansion during the breakout confirms strong participation, and as long as price holds above the current support area, another leg higher remains on the table.
💡 Why I'm Watching This
✅ Strong breakout from the accumulation range
✅ Higher-timeframe trend still intact
✅ Healthy pullback after a parabolic move
✅ Attractive risk-to-reward from current levels
The next few candles could decide whether VELVET reloads for another move toward the highs or spends more time consolidating.
🔥 Are bulls preparing for a second wave toward $0.88+, or is a deeper correction coming first? Drop your target in the comments!
#VELVET #cryptotrading