This wave of $VELVET shorts played out, and honestly, it wasn’t driven by impulse. During the high zone, it just couldn’t break through — VELVET was repeatedly suppressed. What I was really paying attention to at the time was how the longs reacted after chasing in, not whether it could push higher again.

I had actually already noticed this level earlier and planned to wait for a short opportunity around 1.66025. The real shift came here: bounces started getting shorter, pullbacks grew sharper, and while many were still waiting for a reversal candle, I felt the overhead supply had loosened.

The price then pressed all the way down to 0.42991, and this short leg delivered a +734.99% return. There were retracements in between, and the easiest moment to get carried away was when it looked like a reversal was brewing — but it was really just a psychological test for holders.

Now I’m no longer fantasizing about key levels. Instead, I’m locking in profits first and letting the remaining position ride the rhythm. Missed opportunities? Don’t chase. Trying to short after the drop is over is usually the most painful part.

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