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$VELVET Signal】Short Sell | Main Force Pump and Dump Pattern
$VELVET After a surge with high volume, typical signs of a trap to induce selling appear. The price is pushed higher but Taker sell orders dominate, open interest remains stable rather than increasing, indicating short covering and distribution rather than new long positions entering. High funding rates (0.066%) increase the holding costs for longs, creating conditions for a pullback.
🎯Direction: Short Sell
🎯Entry: 0.1125 - 0.1135
🛑Stop Loss: 0.1160 (Rigid Stop Loss)
🚀Target 1: 0.1050
🚀Target 2: 0.0980
The 4-hour chart shows th