$VELVET This coin’s risk is really very high. Right now the order book is crowded with long positions; according to smart money data, the market maker is actually shorting. Only a small number of retail traders are long, and the long-vs-short ratio is severely imbalanced. Such extreme positioning can easily trigger violent pressure control—when a big holder pulls up the price, it can cause a large number of short positions to get liquidated.

At present, the market cap is still over 60 million. Although it has fallen more than 15% in the past 24 hours and the technical indicators look weak, in an oversold state a rebound could come at any time to shake out traders. Even if the bigger trend is weak, don’t blindly keep chasing shorts.

There are a lot of trapped buy orders from the high level, and there really is selling pressure on rebounds. But with so many shorts clustered together, there’s a significant risk that a short-term rise could backfire. Try to wait until the rebound rises to higher levels before setting up short positions, use small position sizing, and be cautious against a sudden squeeze that blows up the “short army.”

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