【$VELVET Signal】Long - 1H pullback confirmation, main force clearly defending the market

$VELVET The 1H timeframe, after experiencing a sharp rise yesterday, is currently undergoing a healthy pullback. The current price is supported above the 1H EMA20 (0.0759), forming a high-level consolidation platform. Although the 4H timeframe is still in a downtrend, the latest 4H bullish candle has broken through the previous consolidation zone, and the bid-ask depth (bid_ask_ratio_depth: 0.76) shows strong support below. Open interest remains stable, and the price is firm, which are typical signals of main force defending the market. The pullback is an opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.0792 - 0.0795 (Reason: 1H EMA20 support zone & dense low points of the previous hour's candlestick )

🛑Stop Loss: 0.0774 (Reason: The first correction low after yesterday's sharp rise & 1H EMA50 support )

🚀Target 1: 0.0834 (Reason: Previous high resistance & 4H Fibonacci 0.382 retracement level )

🚀Target 2: 0.0880 (Reason: Previous wave high on 4H & potential trend reversal target )

🛡️Trade Management:

- Position suggestion: Light position (Reason: The 4H major trend has not fully reversed, indicating a counter-trend game )

- Execution strategy: After reaching Target 1, reduce position by 50% and move stop loss to entry price 0.0795. Hold the remaining position for Target 2. If the price retraces and breaks the moving stop loss, exit all.

Depth logic: Order book imbalance -13.34%, with more sell orders, but the price does not fall and instead stabilizes. This is a typical short squeeze/accumulation feature. The 1H RSI at 63.25 is in a healthy, slightly strong zone, not overheated. Combining market logic suggests “price rising, main force entering or bears stepping on the brakes,” and with stable open interest, it is more likely that main force is entering to defend the market, preparing for the next rally.

View real-time quotes 👇 $VELVET

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