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This move was textbook: first a washout to shake people off, then $USELESS directly pushed upward.
At the time, I wasn't looking at how scary that drop was, but rather how quickly it recovered after the plunge. Panic selling was triggered, but real selling pressure didn't follow.
Long positions were entered around 0.07665, now the price has pushed to 0.08149, +292.99% is right there, and the volatility range has clearly expanded.
Many people got their mindset shaken by that move, thinking it would continue to dump, but the whales love to create misjudgment at these levels.
The key is here: the downside wasn't broken through, instead it cleared out weak hands, making the subsequent rally lighter.
I won't hold this position all at once in one go; a 70/30 split is more comfortable. First lock in part, then let the rest ride with a stop-loss to see continuation.
When the market gives profits, respect the profits. If you missed it, don't chase; wait for the next opportunity.
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