$BAS The bros who bottom-fished last night are probably kneeling in front of their screens right now. It dropped 21% in 24 hours, from a high of 0.0639 to a low of 0.0388, losing an iPhone Pro Max in one hour. Don't panic, it's not going to zero, it's the whales shaking out weak hands — the trading volume of 84 million USD shows someone is catching the falling knife at the bottom, but it's uncertain whether it's a pie or a knife.

This market is like your friend who's drunk at midnight insisting on doing push-ups with you — looks like he's about to fall, but he's still holding on. The current price is 0.0440. When it just broke below 0.04, a batch of stop-loss orders must have been triggered, but it quickly bounced back to 0.044, indicating strong support near 0.0388. If you don't have a position now, you can place a small buy order around 0.042 to bet on a rebound, with a stop-loss at 0.0375 — don't be greedy, take half profit at 0.05, and see if it can touch 0.06 for the rest.
For those holding positions and trapped, don't stubbornly hold on. This coin's volatility is like a roller coaster — your odds of holding until 0.03 are higher than winning the lottery. Either cut half now and wait to buy back at a lower level, or set a stop-loss order at 0.04 and go to sleep. Don't stare at the charts, your heart can't take it.
Remember a rule: this kind of drop is most likely a wick shakeout, but if it can't get back above 0.05 by tomorrow morning, get out quickly. My experience is that if half of the drop is not recovered within 24 hours, it means the bulls have given up. Now there are only two ways to trade: either be a gambler and place a buy order at 0.039 to catch, or be a coward and wait for the trend to confirm before entering.
If you don't understand, ask in the comments. I'll be here until 3 AM.