$VELVET USDT BEARISH REVERSAL SETUP🛑
$VELVET is losing momentum after facing strong rejection near the 1.765 resistance zone. The recent pullback from the highs suggests buyers are taking profits while sellers are gradually gaining control. Failure to hold the current support area could lead to a deeper correction in the short term.
Targets:
TP1: 1.500
TP2: 1.400
TP3: 1.000
Stop Loss: 1.690
Risk management: Use low leverage, risk only a small portion of your capital, and secure partial profits at each target while moving the stop loss to breakeven after TP1.
#VELVET
$VELVET is losing momentum after facing strong rejection near the 1.765 resistance zone. The recent pullback from the highs suggests buyers are taking profits while sellers are gradually gaining control. Failure to hold the current support area could lead to a deeper correction in the short term.
Targets:
TP1: 1.500
TP2: 1.400
TP3: 1.000
Stop Loss: 1.690
Risk management: Use low leverage, risk only a small portion of your capital, and secure partial profits at each target while moving the stop loss to breakeven after TP1.
#VELVET