$VELVET Bears Trigger Aggressive Liquidation As Price Rejects From Major Highs.
SHORT $VELVET
Entry: 1.690 - 1.750
S.L: 1.950
TP 1: 1.530
TP 2: 1.250
Full tp: 0.918
Thesis:
$VELVET prints a massive rejection candle after hitting a peak at 2.17010, indicating heavy institutional selling and distribution.
The sudden spike down through local levels shows momentum has completely flipped bearish, setting up a deeper correction toward the 0.91829 support level.
SHORT $VELVET
Entry: 1.690 - 1.750
S.L: 1.950
TP 1: 1.530
TP 2: 1.250
Full tp: 0.918
Thesis:
$VELVET prints a massive rejection candle after hitting a peak at 2.17010, indicating heavy institutional selling and distribution.
The sudden spike down through local levels shows momentum has completely flipped bearish, setting up a deeper correction toward the 0.91829 support level.