VELVET 4h Chart Analysis and Probable Scenarios.

✅ Bullish Continuation (Momentum Play)

If price:

• Breaks 1.92 high

• Holds above it with volume

👉 Then next targets:

• 2.10 – 2.30

• Possibly higher (if hype continues)

BUT:

• This is high risk chase territory

Pullback / Correction (Very Likely Soon)

If price:

• Fails to break 1.90–1.92

• Shows rejection candles

👉 Then expect retrace to:

• 1.55 (first support)

• 1.30–1.40 (strong support / MA zone)

• Extreme case: ~1.00

🧠 My Read (Important)

👉 This is late-stage pump behavior

• Trend: Bullish

• Condition: Overextended

• Risk: High

📌 Smart money usually:

• Takes profit here

• Waits for pullback