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This same scam pattern again! $MVLL A single-day crash of 18%: within 24 hours it fell from 32 to 24.76, with $5.7M in total trading volume—all panic selling orders.
Those who shorted yesterday are laughing now. People who chased long are already trapped.
My view is very clear: this level isn’t the bottom, but don’t rush into blindly shorting either. I currently have half a position short placed around 25.8 as a test, with the stop-loss set at 27.8. The first target to watch is 24.5; if it breaks, then I’ll chase 23.2.
If, over the next half hour, a pullback to 26.5 comes back and holds steady, I’ll cancel the shorts first and wait to add more shorts around 27.2—this gives longs a fake breakout opportunity. If it directly accelerates downward and breaks below the previous low of 24.76, then I’ll look at 22.8 and add to my position.
I’m only allocating 3% of my position—don’t over-leverage and hold through the pain. This coin is volatile; a “one bullish candle changes everything” script could play out at any time. Update results in the comments.