$VELVET REJECTED AT KEY RESISTANCE – SHORT SETUP WITH CLEAR R:R 🔥
Entry: 1.7356 🔥
Target: 1.5059 🚀
Stop Loss: 2.0407 ⚠️
Velvet is facing a firm rejection at the 1.7356 zone after a prolonged uptrend. The daily RSI is showing bearish divergence while volume declines on the latest push – textbook signs of absorption. This resistance held during the initial move and is now acting as a supply block.
The structure suggests a liquidity sweep above is unlikely before a pullback. With targets extending to 1.2924 and 1.0981, the risk-to-reward is favorable for a short swing. Are you shorting the rejection or waiting for one more test?
Not financial advice. Always manage your risk.
#VELVET #ShortSetup #ResistanceRejection #Crypto #SwingTrade
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Entry: 1.7356 🔥
Target: 1.5059 🚀
Stop Loss: 2.0407 ⚠️
Velvet is facing a firm rejection at the 1.7356 zone after a prolonged uptrend. The daily RSI is showing bearish divergence while volume declines on the latest push – textbook signs of absorption. This resistance held during the initial move and is now acting as a supply block.
The structure suggests a liquidity sweep above is unlikely before a pullback. With targets extending to 1.2924 and 1.0981, the risk-to-reward is favorable for a short swing. Are you shorting the rejection or waiting for one more test?
Not financial advice. Always manage your risk.
#VELVET #ShortSetup #ResistanceRejection #Crypto #SwingTrade
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