VELVET experiences a super violent surge, with the low point in the range at 0.76054 soaring to a high of 1.922, with a single-day increase directly doubling (+105.12%), now at 1.68123, and short-term bullish sentiment fully ignited. The 4-hour chart shows continuous large bullish candles, indicating very strong short-term bullish momentum.

The KDJ indicator's three lines are all above 80 in the overbought zone, indicating serious overbought conditions, with a short-term technical correction and profit-taking needs likely.

The short-term bullish inertia is still present, but the gains are too large and overbought, making chasing high very risky; after reaching 1.922 and slightly pulling back, it shows clear resistance above, with profit-taking actions from high positions; the overall trend is very strong in the short term but driven by extreme emotion, without a correction to digest the gains, leading to highly volatile swings; rapid drops may also occur.

Strong resistance: 1.922 (the current high point, breaking through is needed to open new upward space)
Short-term support: 1.55-1.60 zone (the first support near the current price)
Key defensive support: 1.35 (the relay platform of this rally, breaking below would weaken the bullish trend)

The short-term surge is huge, with extreme volatility, so position control must be strict.
It is recommended to wait for a pullback to support and stabilize before entering low positions, prioritizing signals of stabilization at 1.55/1.35 support levels; if the price attempts a second surge and tests the 1.922 resistance without breaking it, small positions can be used for short-term shorting, avoiding fighting the trend, quick in and out, with strict stop-loss.

If volume increases and a breakout above the previous high at 1.922 occurs, bullish sentiment will be further released, and small positions can follow the trend; otherwise, if the rally weakens, focus on avoiding a correction.

Personal advice, not investment recommendations. Cryptocurrency markets are highly volatile, and the risk of a sharp correction after a surge is huge. Please manage your own risk. #我的Gate交易时刻