VELO Isn't Done Yet: Positioning for the Breakout!
Updated
VELO is shaping up nicely after the recent BMS action above the micro pivot. I'm adding some here, but leaving some space in case we get a dip into the 0.012 zone – that would be perfect for my final buys before a potential move higher.
The weekly and monthly charts are still lagging significantly compared to other coins, showing a stagnating trend. This tells me that while VELO is consolidating, it's not yet in a strong bullish phase. My strategy right now is to anticipate the next signal and position myself as close as possible to the deviation level for optimal risk/reward.
If we do see a deeper retrace, say down to 0.009, I plan to go heavy in at that level, but I doubt we’ll get that low in the short term. That’ll likely be a setup for a longer-term position trade, and I’ll provide an update if we start heading in that direction
The weekly and monthly charts are still lagging significantly compared to other coins, showing a stagnating trend. This tells me that while VELO is consolidating, it's not yet in a strong bullish phase. My strategy right now is to anticipate the next signal and position myself as close as possible to the deviation level for optimal risk/reward.
If we do see a deeper retrace, say down to 0.009, I plan to go heavy in at that level, but I doubt we’ll get that low in the short term. That’ll likely be a setup for a longer-term position trade, and I’ll provide an update if we start heading in that direction
Trade active
Nice reaction. Might have caught the low of the last level before expansion. Time to hold and see how far it goes. VELO
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