Based on the 4H VELVETUSDT Perpetual chart
Market Structure
Current Price: ~$1.80
24H High: $1.8438
Price has rallied sharply from around $0.38 to $1.80, so it's already in a strong uptrend.
Momentum is still bullish, but after such a large move, the risk of a pullback has increased.
🟢 Long Setup
Aggressive Entry:
$1.78–1.82 (only if price continues holding above $1.75)
Safer Entry:
Wait for a pullback to $1.60–1.68 and watch for bullish confirmation.
Targets:
🎯 TP1: $1.84 (recent high)
🎯 TP2: $1.95
🎯 TP3: $2.10–2.20 if the breakout continues
Stop Loss:
Below $1.68 for aggressive entries.
Use a trailing stop once price moves in your favor.
🔴 Short Setup
I would avoid opening a short right now because the trend is still bullish.
A short setup becomes more attractive only if:
Price gets rejected around $1.84–1.90, and
A bearish 4H candle closes below $1.75.
Potential Targets (if bearish confirmation appears):
🎯 TP1: $1.60
🎯 TP2: $1.45
🎯 TP3: $1.27
Stop Loss:
Above the recent swing high.
Overall View
Bias: Bullish 📈
Preferred Trade: Look for a long on a pullback or after a confirmed breakout above $1.8438.
Avoid chasing the price after such a strong rally—wait for confirmation or a healthy retracement to improve your risk-to-reward ratio.
Market Structure
Current Price: ~$1.80
24H High: $1.8438
Price has rallied sharply from around $0.38 to $1.80, so it's already in a strong uptrend.
Momentum is still bullish, but after such a large move, the risk of a pullback has increased.
🟢 Long Setup
Aggressive Entry:
$1.78–1.82 (only if price continues holding above $1.75)
Safer Entry:
Wait for a pullback to $1.60–1.68 and watch for bullish confirmation.
Targets:
🎯 TP1: $1.84 (recent high)
🎯 TP2: $1.95
🎯 TP3: $2.10–2.20 if the breakout continues
Stop Loss:
Below $1.68 for aggressive entries.
Use a trailing stop once price moves in your favor.
🔴 Short Setup
I would avoid opening a short right now because the trend is still bullish.
A short setup becomes more attractive only if:
Price gets rejected around $1.84–1.90, and
A bearish 4H candle closes below $1.75.
Potential Targets (if bearish confirmation appears):
🎯 TP1: $1.60
🎯 TP2: $1.45
🎯 TP3: $1.27
Stop Loss:
Above the recent swing high.
Overall View
Bias: Bullish 📈
Preferred Trade: Look for a long on a pullback or after a confirmed breakout above $1.8438.
Avoid chasing the price after such a strong rally—wait for confirmation or a healthy retracement to improve your risk-to-reward ratio.