$VELVET Short Signal | 1H Momentum Decline + Negative Fee Rate

$VELVET Funding rate -0.016%, short holding cost is negative. The 1H MACD histogram has shrunk for two consecutive bars, with marginal weakening of upward momentum. The 4H RSI at 34.93 is at the edge of the oversold zone, but the short-term rebound has touched the 0.618 resistance level. The order book bid depth is 2.98%, with sparse orders, and weak buying support at higher levels. The current risk-reward ratio is 1.5, worth attempting to test low liquidity at the lower levels.
🎯Direction: Short
⚡Entry/Limit Order: 0.578958 - 0.580700
🛑Stop Loss: 0.586507
🚀Target 1: 0.571989
🚀Target 2: 0.567634
🛡️Trade Management: - Execution Strategy: After reaching Target 1, reduce position by 50% and move stop loss to breakeven. If price falls back to the entry level, exit automatically to protect capital.
The 1H Bollinger Band upper rail at 0.6165 has effectively suppressed, and although the 4H MACD has a golden cross, the histogram volume is shrinking, indicating potential exhaustion in the rebound structure. OI is stable with no abnormal position changes, watch for a break of the 0.5676 support level below.
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