Short Signal on $VELODROMEUSDT 📉$$💰
Analyze:
On the weekly timeframe, the price is located in an accumulation zone (Rally-Base-Rally setup), while the current weekly trend is bearish.
On the daily chart, the trend is also bearish, but once it reached the weekly accumulation zone, the price began to consolidate, which suggests two possible scenarios: a reversal of the bearish trend if there’s an upward breakout, or a continuation of the trend if there’s a downward breakout.
Make sure that the breakout occurs with strong momentum, and wait for a retest or pullback on the H4 (4-hour) timeframe.
Everything is based on probability, so there’s no guarantee that the analysis will be successful. #NFA ALWAYS DO YOUR OWN RESEARCH. Together WAGMI ✊🏽