$VELVET 1 hours: -5.77%, current price 0.07264. If you're itching to buy the dip, ask yourself three questions first:
① Has the 24-hour low of 0.0658 held, and are there signs the decline is stopping?
② This was a sudden plunge. What will you do if it drops further?
③ Have you prepared a stop-loss? What will you do if you get in at the wrong time?
If you can't answer these questions, it's better to wait.
Until there are signs the price has bottomed, staying on the sidelines is safer.
#VELVET
① Has the 24-hour low of 0.0658 held, and are there signs the decline is stopping?
② This was a sudden plunge. What will you do if it drops further?
③ Have you prepared a stop-loss? What will you do if you get in at the wrong time?
If you can't answer these questions, it's better to wait.
Until there are signs the price has bottomed, staying on the sidelines is safer.
#VELVET