🟢 $VELVET SHORT SIGNAL (Binance Market Training Post)
VELVET is currently showing a bearish continuation setup after failing to sustain momentum above the $0.12042 resistance zone. Price action reflects repeated rejection from higher levels, forming lower highs and indicating that sellers are gradually taking control of the market structure.
The chart suggests a recent liquidity grab above resistance followed by a clear rejection, which often leads to downside continuation. Bullish attempts are weakening, and momentum is shifting in favor of sellers as the price struggles to hold elevated levels.
For confirmation, traders should wait for a clean breakdown below nearby support or a strong bearish candle before entering the short position. Volume behavior supports the bearish outlook, with declining buying pressure on pullbacks.
Risk management is essential—place stop loss above resistance to protect against sudden spikes or fake breakouts in volatile conditions.
Entry: $0.12042
Bias: Short
Signal Type: Resistance Rejection / Bearish Continuation
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