🔴 $VELVET | SHORT — Daily is trending down, sellers have the edge 📉

VELVET is maintaining a bearish structure on the Daily timeframe, while the 1H RSI shows momentum still favoring sellers. Although the 4H picture isn’t very clear yet, I’m watching the 0.0685455–0.0688545 zone for a SHORT entry.

📍 SHORT plan

* Entry: 0.0685455 – 0.0688545
* 🎯 TP1: 0.0653635 (-4.9%) → take 50% profit
* 🎯 TP2: 0.0631391 (-8.1%)
* 🎯 TP3: 0.0598026 (-13.0%)
* 🛑 SL: 0.0731487 (+6.5%)

After TP1, move the SL to Entry.

📉 Key points

* Daily: Price < EMA50 < EMA200 → bearish structure on the higher timeframe.
* 1H RSI: 40.1 → momentum is favoring sellers.
* Versus BTC: VELVET is underperforming by 9.70% over 24H → relatively weaker than the market.
* ⚠️ The 4H signals are mixed, so this setup doesn’t yet have strong confluence.

The 0.0685455–0.0688545 zone is where I’m waiting for a SHORT entry. If the price reaches 0.0731487, this SHORT scenario is no longer valid.

NFA · DYOR. This content is for educational purposes only and is not investment advice.

Tap below to trade with SHIN👇