$VELVET has been in a steady downtrend, but it may finally be trying to establish a base. A potential double bottom is forming, though confirmation is still needed.
The first key level is 0.20, followed by 0.26 to fully shift the short-term structure bullish. At current levels, upside may have the better risk/reward, but volatility remains high.
If support breaks or resistance rejects the move, there’s no reason to force a trade. Manage size and wait for confirmation.
The first key level is 0.20, followed by 0.26 to fully shift the short-term structure bullish. At current levels, upside may have the better risk/reward, but volatility remains high.
If support breaks or resistance rejects the move, there’s no reason to force a trade. Manage size and wait for confirmation.
