๐จ$VELVET is moving quietly โ down 2.98% now at $0.07188 after pumping to $0.09569 ๐ฅ ๐ฅถ
What happened: It shot up to $0.09569, then dropped to $0.06081 = a quick 36% liquidation
Now at $0.07188, above MB at $0.07020 = still above the average = hasnโt broken down
AVL at $0.07183, just below it = this is its support โ break it = $0.06536 DN
UP at $0.07503, above it = break it = straight to the 24-hour high of $0.07691
RSI 54.54, neutral = still cool
MACD -0.00020, red + DIF below DEA = still cooling off โ needs to turn green
Volume $11.62M = calm cooling off after the frenzy
Why am I watching it?
From $0.07188 to $0.07503 = +4.3%
From $0.07188 to the pump high of $0.09569 = +33% if it returns
My plan:
Entry: $0.07020 MB โ $0.06536 DN only โ donโt chase green candles
Target 1: $0.07503 UP
Target 2: $0.09569 high
Stop: 4-hour close below $0.06536 DN
Cooling off or new accumulation? What do you think? ๐
$VELVET
What happened: It shot up to $0.09569, then dropped to $0.06081 = a quick 36% liquidation
Now at $0.07188, above MB at $0.07020 = still above the average = hasnโt broken down
AVL at $0.07183, just below it = this is its support โ break it = $0.06536 DN
UP at $0.07503, above it = break it = straight to the 24-hour high of $0.07691
RSI 54.54, neutral = still cool
MACD -0.00020, red + DIF below DEA = still cooling off โ needs to turn green
Volume $11.62M = calm cooling off after the frenzy
Why am I watching it?
From $0.07188 to $0.07503 = +4.3%
From $0.07188 to the pump high of $0.09569 = +33% if it returns
My plan:
Entry: $0.07020 MB โ $0.06536 DN only โ donโt chase green candles
Target 1: $0.07503 UP
Target 2: $0.09569 high
Stop: 4-hour close below $0.06536 DN
Cooling off or new accumulation? What do you think? ๐
$VELVET