$VELVET From 0.80 all the way up to 1.16, with a pullback to 1.04—this isn’t distribution; it’s building energy. In the spot order book, buy volume is 6278 versus sell volume of 4973. The buy wall is thicker than the sell wall by 26%. The shorts can’t even assemble a decent opposing book. Both the daily and 4-hour charts have turned up; the 24-hour move is +25%, and the share of aggressive buying is 57% and still climbing. Enter at 1.04, first take profit at 1.10. If price holds, push toward the 1.16 prior high. Place a stop-loss at 0.96 to lock it outside the structure.