$VELODROME: Open Interest Drops Rapidly: Long Squeeze Underway
SHORT SETUP VELODROME
Entry: $0.03875 - $0.03885
Stop Loss: $0.04020
Take Profit: $0.03600 (2R)
Key Levels: Support $0.03794 | Resistance $0.03958
Technical Analysis for $VELODROME: MACD sits below its signal with a negative histogram, and Stochastic K is around 26, indicating oversold conditions. ADX above 30 confirms a strong trend, while price remains under EMA21 and EMA50. Orderbook shows a heavy sell imbalance. These factors collectively favor short pressure near the 0.03958 resistance level today.
Market Context: BTC trades lower, down 0.8% in 24 h, with a bearish 4hour trend. The broader crypto market is broadly negative, 82% of
SHORT $VELODROME
SHORT SETUP VELODROME
Entry: $0.03875 - $0.03885
Stop Loss: $0.04020
Take Profit: $0.03600 (2R)
Key Levels: Support $0.03794 | Resistance $0.03958
Technical Analysis for $VELODROME: MACD sits below its signal with a negative histogram, and Stochastic K is around 26, indicating oversold conditions. ADX above 30 confirms a strong trend, while price remains under EMA21 and EMA50. Orderbook shows a heavy sell imbalance. These factors collectively favor short pressure near the 0.03958 resistance level today.
Market Context: BTC trades lower, down 0.8% in 24 h, with a bearish 4hour trend. The broader crypto market is broadly negative, 82% of
SHORT $VELODROME