$VELVET Signal: Pullback support—go long. 1H Bollinger Bands contract.

$VELVET After a trading volume of 573 million, the price around 0.60 sees heavy turnover. The 1H Bollinger Bands converge to 0.5268-0.6376, with the midline at 0.5822 providing a short-term benchmark. The 1H MACD histogram is negative, but the DIF remains above the DEA, meaning bearish release is insufficient. The 4H MACD long-side histogram contracts, but the fast/slow lines are above the zero axis; the medium-term bullish structure remains intact. The buy/sell ratio is 1.01; depth is imbalanced at only 0.60%, and limit order placement shows deliberate support. Funding rate is 0.005%, with no short-squeeze pressure. RSI: 1H 58.39, 4H 59.71—has not entered the overbought zone.
Current risk-reward ratio is about 1:1.5. Stop-loss at 0.5945 is relatively close, suitable for an aggressive setup. Personally, I lean to go long in the 0.599-0.600 area, waiting for the next round of capital pushing higher.
🎯 Direction: long
⚡ Entry / pending orders: 0.598798 - 0.600600
🛑 Stop-loss: 0.594594
🚀 Target 1: 0.609609
🚀 Target 2: 0.614113
🛡️ Trade management: - After reaching Target 1, cut 50%. Move the stop-loss up to breakeven. If price falls back to the entry area, automatically exit.
Depth rationale: OI trend is stable. The 4H Bollinger upper band at 0.6323 forms resistance, but the middle band at 0.5013 is far away; 0.60 is the key balance level. After the market digests the previous high sell pressure, if buy orders increase in volume and break 0.614, upside room will open quickly. Cold evaluation: risk-reward is acceptable, but stay alert to broader-market correlation—strictly follow the stop-loss.
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