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
✅ 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