📊 $VELVET /USDT Trade Setup (Short Bias)
The price is currently struggling to maintain the recovery momentum after the crash from the 0.10100 peak.
Entry Price: $0.08941 - 0.09100 (Current market price or on a slight relief bounce)
Take Profit (TP 1): 0.08450 (Previous support level)
Take Profit (TP 2): 0.08100 (Major floor/recent low)
Stop Loss (SL): 0.09450 (Above the recent consolidation wick)
💡 Market Context
Trend: The 15m chart shows a massive rejection at the 0.10100 level. The yellow moving average (AVL) is flattening out, indicating loss of momentum.
Sentiment: The bottom bar shows 65.58% Short vs 34.42% Long, meaning the majority of traders are betting on a further price drop.
Risk Warning: This looks like a highly volatile perpetual contract (Perp). Use low leverage and never risk more than 1-2% of your capital on a single trade.
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