$VELVET is setting up big bullish trap
Short $VELVET
Entry: 0.085 – 0.10
SL: 0.130
TP1: 0.0760
TP2: 0.0710
TP3: 0.0660
TP4: 0.0615
Why:
$VELVET has exploded over 30% and pushed all the way to 0.09569 before pulling back toward 0.0808. The move is extremely extended on the 4H chart, with price still far above MA7 at 0.07216, MA25 at 0.06130 and MA99 at 0.05946. MACD remains strongly bullish, with DIF 0.00554 above DEA 0.00252, so this is a counter-trend short. I’d want to see continued rejection from the 0.0957 area and weakness below 0.0800 for stronger confirmation.
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#Altcoin Season#
Short $VELVET
Entry: 0.085 – 0.10
SL: 0.130
TP1: 0.0760
TP2: 0.0710
TP3: 0.0660
TP4: 0.0615
Why:
$VELVET has exploded over 30% and pushed all the way to 0.09569 before pulling back toward 0.0808. The move is extremely extended on the 4H chart, with price still far above MA7 at 0.07216, MA25 at 0.06130 and MA99 at 0.05946. MACD remains strongly bullish, with DIF 0.00554 above DEA 0.00252, so this is a counter-trend short. I’d want to see continued rejection from the 0.0957 area and weakness below 0.0800 for stronger confirmation.
📩DM ME ON X TO KNOW HOW TO JOIN MY PREMIUM FOR HIGHLY PROFITABLE TRADE SETUPS LIKE THIS
#Altcoin Season#
