$VELVET 3.7x Volume Spike Looks Like a Liquidity Raid, Not Accumulation
My bias remains bearish. The 3.7x volume surge into 0.0961 looks more like a buy-side liquidity sweep around the last lower high than genuine accumulation. With 1H, daily, and BTC structure still bearish, chasing longs here carries elevated risk.
I’m watching 0.0956–0.0976 for a rejection. If sellers regain control, the downside levels are 0.0933, 0.0922, 0.0913, and ultimately the 0.0874–0.0870 demand zone.
For a short, I want confirmation first: a clear rejection/engulfing around 0.0961–0.0967 or a 5–15M market-structure shift below 0.0950.
No chasing the spike. A 1H close above 0.0961 would invalidate the bearish setup and shift the bias bullish...$VELVET
#VELVET #CryptoTrading #Altcoins #TechnicalAnalysis #Crypto
My bias remains bearish. The 3.7x volume surge into 0.0961 looks more like a buy-side liquidity sweep around the last lower high than genuine accumulation. With 1H, daily, and BTC structure still bearish, chasing longs here carries elevated risk.
I’m watching 0.0956–0.0976 for a rejection. If sellers regain control, the downside levels are 0.0933, 0.0922, 0.0913, and ultimately the 0.0874–0.0870 demand zone.
For a short, I want confirmation first: a clear rejection/engulfing around 0.0961–0.0967 or a 5–15M market-structure shift below 0.0950.
No chasing the spike. A 1H close above 0.0961 would invalidate the bearish setup and shift the bias bullish...$VELVET
#VELVET #CryptoTrading #Altcoins #TechnicalAnalysis #Crypto