【$VELVET Signal】1H breakout hits resistance; funds still provide support; long positions laid in wait

$VELVET Selling pressure shows up near the 1H Bollinger upper band at 0.6179; the current price is 0.6075, ranging. During the session, buy-side depth share is 62%, and the funding rate is 0.005% with no anomalies. The 4H MACD histogram continues to expand, and the long-side structure remains stable. The current risk-reward ratio is about 1.5; assess calmly to see if it’s feasible.
🎯Direction: Go long
⚡Entry/Orders: 0.606276 - 0.608100
🛑Stop loss: 0.602019
🚀Target 1: 0.617221
🚀Target 2: 0.621782
🛡️Trade management:
- Execution strategy: After reaching Target 1, cut position by 50% and move the stop loss up to breakeven. If price falls back to the entry zone, automatically exit to protect principal.
Depth logic: 1H RSI 75.3 has not formed a top divergence yet; buying-side absorption is positive. 4H Bollinger band opening expands, indicating the trend may continue. Limit orders are densely placed around 0.606, with clear support. The short-term scalp has a good cost-performance ratio.
Check live market 👇 $VELVET
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