🔴$VELVET /USDT — STRONG SHORT
Asset: Velvet
Situation: Brutal free fall, with a structure of lower highs and lower lows; a bounce with no volume or strength, and the downtrend is dominant and deep
Bias: SHORT ✅✅
Entry: 0.0520 – 0.0525
TP1: 0.0510 (-1.9%)
TP2: 0.0500 (-3.8%)
TP3: 0.0490 (-5.7%)
SL: 0.0535 (+1.9%)
Rationale: Order book: 57.13% demand / 42.87% supply → demand is present but insufficient to halt the decline. Immediate resistance at 0.0535. Until it breaks above that level, every rise is a selling opportunity. Breaking 0.05070 (24h low) will accelerate the decline. Moving above 0.0535 shifts the bias to sideways.
Context: -11.75% in 7d / -87.05% in 90d → extreme downtrend.
Asset: Velvet
Situation: Brutal free fall, with a structure of lower highs and lower lows; a bounce with no volume or strength, and the downtrend is dominant and deep
Bias: SHORT ✅✅
Entry: 0.0520 – 0.0525
TP1: 0.0510 (-1.9%)
TP2: 0.0500 (-3.8%)
TP3: 0.0490 (-5.7%)
SL: 0.0535 (+1.9%)
Rationale: Order book: 57.13% demand / 42.87% supply → demand is present but insufficient to halt the decline. Immediate resistance at 0.0535. Until it breaks above that level, every rise is a selling opportunity. Breaking 0.05070 (24h low) will accelerate the decline. Moving above 0.0535 shifts the bias to sideways.
Context: -11.75% in 7d / -87.05% in 90d → extreme downtrend.