With undercurrents and divergence moving in sync, the chart structure for $VELVET is signaling a bullish bias. On the 1-hour chart, price is above EMA50 and holding above EMA200, with the moving averages aligned bullishly and the short-term trend clearly pointing up. The 15-minute ADX is 24.1, and DI+ is decisively above DI−, showing buyers are setting the pace. The 4-hour RSI is 58.8: momentum is strong, but not yet overheated.
The broader daily structure remains bearish, which means position sizes should be kept conservative and stop-losses respected. But the short-term structure has turned bullish; a pullback that holds above key levels could present an opportunity. I’m watching to see whether volume continues to provide support at the support zone, rather than trying to call tops or bottoms.
🟢 Trade direction: Long
📍 Entry range: 0.0779142 – 0.0781313
🛑 Stop-loss: 0.0751300
🎯 Take profit 1: 0.0801923
🎯 Take profit 2: 0.0816387
🎯 Take profit 3: 0.0838083
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the ebb and flow of fortune.
#VELVET
Click below to trade 👇
The broader daily structure remains bearish, which means position sizes should be kept conservative and stop-losses respected. But the short-term structure has turned bullish; a pullback that holds above key levels could present an opportunity. I’m watching to see whether volume continues to provide support at the support zone, rather than trying to call tops or bottoms.
🟢 Trade direction: Long
📍 Entry range: 0.0779142 – 0.0781313
🛑 Stop-loss: 0.0751300
🎯 Take profit 1: 0.0801923
🎯 Take profit 2: 0.0816387
🎯 Take profit 3: 0.0838083
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the ebb and flow of fortune.
#VELVET
Click below to trade 👇