The heavy downside momentum on $VELVET is signaling a major distribution phase; the breakdown is accelerating.
$VELVET — SHORT
Trade Plan:
Entry: 1.2474 – 1.2543
SL: 1.3482
TP1: 1.1250
TP2: 1.0210
TP3: 0.9259
Why this setup?
Aggressive Distribution: A massive 1H bearish marubozu candle confirms heavy institutional selling and clear order block invalidation.
Moving Average Confluence: Price is trading significantly below the MA(7) at 1.4465 and MA(25) at 1.4748, confirming dominant short-term bearish control.
Extreme Volatility Expansion: A sharp -19.99% intraday drop backed by 157.63M USDT in volume indicates a high-confidence trend continuation to the downside.
Debate:
Will $VELVET catch support near 1.0000, or are we cascading straight to 0.9259?
Click here to Trade 👇
$VELVET — SHORT
Trade Plan:
Entry: 1.2474 – 1.2543
SL: 1.3482
TP1: 1.1250
TP2: 1.0210
TP3: 0.9259
Why this setup?
Aggressive Distribution: A massive 1H bearish marubozu candle confirms heavy institutional selling and clear order block invalidation.
Moving Average Confluence: Price is trading significantly below the MA(7) at 1.4465 and MA(25) at 1.4748, confirming dominant short-term bearish control.
Extreme Volatility Expansion: A sharp -19.99% intraday drop backed by 157.63M USDT in volume indicates a high-confidence trend continuation to the downside.
Debate:
Will $VELVET catch support near 1.0000, or are we cascading straight to 0.9259?
Click here to Trade 👇