$VELVET Heavy Breakdown
VELVET is in a severe downtrend on the 1h chart, recently suffering a massive drop from the 0.075 level straight down to 0.054. The structure is completely broken, and any minor bounces are quickly sold off. Momentum is heavily bearish, making this a prime setup for a continuation short.
Entry Zone
0.0540 – 0.0545 (start here)
0.0560 – 0.0570 (add on bounce)
0.0580 – 0.0590 (aggressive add)
Targets
TP1: 0.0510
TP2: 0.0480
TP3: 0.0450
TP4: 0.0420
TP5: 0.0390
TP6: 0.0350
Stop Loss 0.0610
The trend is aggressively down enter with confidence, add on dead cat bounces, and trail stops as price continues to drop.
DYOR
Short here 👉🏻 $VELVET
VELVET is in a severe downtrend on the 1h chart, recently suffering a massive drop from the 0.075 level straight down to 0.054. The structure is completely broken, and any minor bounces are quickly sold off. Momentum is heavily bearish, making this a prime setup for a continuation short.
Entry Zone
0.0540 – 0.0545 (start here)
0.0560 – 0.0570 (add on bounce)
0.0580 – 0.0590 (aggressive add)
Targets
TP1: 0.0510
TP2: 0.0480
TP3: 0.0450
TP4: 0.0420
TP5: 0.0390
TP6: 0.0350
Stop Loss 0.0610
The trend is aggressively down enter with confidence, add on dead cat bounces, and trail stops as price continues to drop.
DYOR
Short here 👉🏻 $VELVET
