$VELVET JUST RECLAIMED A KEY EMA21 AFTER A FAST DUMP — LONG SETUP ACTIVE 🔥
Entry: 0.5120 - 0.5220 🔥
Target: 0.5370 / 0.5650 / 0.6000 🚀
Stop Loss: 0.4900 ⚠️
This is a classic relief bounce after price swept down to $0.4942 and immediately snapped back. The 1H EMA21 is reclaimed, funding is neutral, and open interest is leaking slightly — meaning shorts aren't piling in yet. Top traders are underwater from the drop and fresh buyers are stepping in aggressively.
If the 4H trend is still bearish, this needs to hold above 0.5120 to build momentum. Do you take the first target or wait for confirmation at the range low?
Not financial advice. Always manage your risk.
#VELVET #LongSetup #ReliefBounce #Crypto 🔥