Trading Plan Short $VELVET
$VELVET wicked the upper BB, showing exhaustion after a massive pump.
Entry: $0.6800-$0.7000
Stoploss: $0.7400
Targets: $0.6200 / $0.5500 / $0.4800
VELVET saw a 50% move yesterday, now hitting extreme overbought. BB width expanded 999% in 10 candles, usually leads to a snapback. Top traders are crowded long, but taker sell volume is picking up. Funding rates are climbing, longs paying heavy. This is a clear fade of the range extreme. Reclaim $0.7400, short voided.
Trade $VELVET here 👇
$VELVET wicked the upper BB, showing exhaustion after a massive pump.
Entry: $0.6800-$0.7000
Stoploss: $0.7400
Targets: $0.6200 / $0.5500 / $0.4800
VELVET saw a 50% move yesterday, now hitting extreme overbought. BB width expanded 999% in 10 candles, usually leads to a snapback. Top traders are crowded long, but taker sell volume is picking up. Funding rates are climbing, longs paying heavy. This is a clear fade of the range extreme. Reclaim $0.7400, short voided.
Trade $VELVET here 👇