$VELVET A 24-hour sharp drop of 32%, falling from 1.92 to 0.62, with 6.22B in trading volume, blood flows in the river. Life and death game, choose a side.

Bullish reasons: 1. After the sharp decline, massive turnover near the bottom at 0.62 indicates obvious signs of main players accumulating; 2. The new coins in the same sector generally rebounded after a 30% correction, with 0.72 as the previous support level; 3. The trading volume has deviated from the average, and after panic selling is exhausted, the main players may push the price up to rescue.

Bearish reasons: 1. It only took two days to fall from 1.92 to 0.62, the bear flag pattern has not broken, and the shorting momentum remains; 2. After a 32% plunge, the rebound is weak, with 0.8 as a strong resistance level, and retail investors are reluctant to buy; 3. The project team has not issued positive news to support the price, funds continue to flow out, possibly heading to new lows.

Operational suggestion: Lightly buy at 0.62-0.65, stop loss at 0.58, take profit at 0.78; if it breaks below 0.6, immediately stop loss and observe. I see this kind of sharp rebound on Gate, old rule, if it can rise, deduct 1; if it collapses, deduct 2. $