$VELODROME /USDT BEARISH OUTLOOK 📉
Key Levels:
- Current Price: $0.1827
- Resistance Levels: $0.1850, $0.1927
- Support Levels: $0.1750, $0.1810
Trade Setup:
- Short Entry: $0.1827
- Take Profit (TP): $0.1750
- Stop Loss (SL): $0.1850
Risk Management:
- Risk-Reward Ratio: 1:2
- Position Size: Adjust according to your risk tolerance, ideally risking no more than 1-2% of your trading capital.
Summary:
We are looking to short $VELODROME/USDT due to the recent bearish momentum indicated by the red candles and the price failing to break above the resistance level at $0.1850. The target is set at the next support level of $0.1750, with a stop loss just above the resistance to manage risk effectively. 📉
Happy Trading! 📊