$VELVET is testing a supply zone that previously rejected advances with force.
Trading Plan Short $VELVET
Entry: 0.568 – 0.570
SL: 0.582
TP1: 0.550
TP2: 0.528
TP3: 0.500
The recent advance has brought the market directly into a region where sellers previously initiated a sharp decline. Overhead liquidity is heavy, and momentum is showing signs of fatigue. A rejection from this level would likely send price toward the next support levels beneath the recent swing lows.
#Fed Chair Warsh testifies on rates #Codex user base expands #BUIDL surges on Avalanche #Clarity Act draft progress
