When looking at $VELVET in early trading, my first reaction was not to chase shorts, but to wait for it to reveal its own weakness. VELVET had been consolidating at highs for too long; on the surface it looked strong, but actually the longer it dragged on, the easier it became for bulls to get exhausted.

The key was around 1.66025, where several consecutive bounces failed to regain momentum. To put it plainly, a truly strong market wouldn't keep giving people time to hesitate; the longer it gives, the more it indicates that someone is slowly pulling out from above.

Later, from 1.66025 down to 0.40276, this short trade played out, with the return showing +751.37%. I didn't frequently tinker in between, just lowered the risk and let the market run on its own for the rest.

Now looking back, the most important thing is not how much was earned this time, but that I wasn't led astray by the bounces. In a downtrend, you can't blindly chase, especially after a move has already played out; you need to be more patient and wait for the next confirmation.

$BTC $ETH