Writing
🚨 $VELVET OVERSOLD BOUNCE SETUP 👀📈
After a brutal correction, traders are watching for a potential relief rally. ⚡
🟢 LONG SETUP
📍 Entry Zone: 0.3850 – 0.4250 🛑 Stop Loss: 0.3450
🎯 TP1: 0.6200 🎯 TP2: 0.7800 🎯 TP3: 1.0500
Why this setup?
✅ 15-minute RSI deeply oversold ✅ Selling pressure showing signs of exhaustion ✅ Higher-timeframe bullish structure still being monitored ✅ Relief rally potential after extreme volatility
The key question now:
📈 Is this the beginning of a recovery? 📉 Or just another bounce before continuation lower?
In highly volatile markets, sharp moves happen in both directions. Protect capital and let price confirm the trend. 👀🔥