$VELVET USDT Trade Setup

The chart is extremely bullish but also highly overextended after a massive pump from around $0.30 to $1.90. This is a high-risk momentum trade.

Key Levels

Resistance: $1.92 (major), then $2.10 and $2.40

Support: $1.60, $1.35, then $1.10

Trade Setup 1 – Breakout Long

Entry: Above $1.93 on a 4H candle close
Stop Loss: $1.72
Targets:

TP1: $2.10

TP2: $2.35

TP3: $2.60

Trade Setup 2 – Buy the Dip

Entry Zone: $1.50-$1.60 Stop Loss: $1.30 Targets:

TP1: $1.92

TP2: $2.10

TP3: $2.40

Trade Setup 3 – Short (Only if Weakness Appears)

If price loses $1.50 with high volume:

Entry: Below $1.48

Stop Loss: $1.68

Targets:

TP1: $1.30

TP2: $1.10

TP3: $0.90

Trading View

Trend: Bullish but overheated.

Risk: Very high volatility and potential for a sharp correction after the parabolic move.

Leverage: Maximum 3x-5x.

Current bias: Wait for either:

1. A confirmed breakout above $1.92, or

2. A pullback to $1.50-$1.60 for a safer long entry.

Avoid FOMO buying at $1.79-$1.90 unless volume continues to expand and the breakout is confirmed.
#Velvet #VELVETUSDT