🎻 $VELVET
update — still no bounce, RSI now even more extreme than last session
Last session VELVET had just crashed 75% in a day with RSI at 6, and I flagged the timing against its own token-unlock cliff as the likely cause. Two sessions later, there's still no real bounce - price has bled another 13% and RSI is reading even lower now. This is a genuinely unusual stretch of sustained oversold conditions without relief, which either means sellers (possibly unlock-related) are still working through supply, or the damage to sentiment runs deeper than a single unlock event. The real backing (YZi Labs, seven audits) hasn't changed, but two sessions of failed bounce attempts is worth respecting. Very low conviction, small size only if playing this.$BTR $HANA
LONG $VELVET
Entry: 0.1050
SL: 0.0850
TP1: 0.1400
TP2: 0.1800
TP3: 0.2400
update — still no bounce, RSI now even more extreme than last session
Last session VELVET had just crashed 75% in a day with RSI at 6, and I flagged the timing against its own token-unlock cliff as the likely cause. Two sessions later, there's still no real bounce - price has bled another 13% and RSI is reading even lower now. This is a genuinely unusual stretch of sustained oversold conditions without relief, which either means sellers (possibly unlock-related) are still working through supply, or the damage to sentiment runs deeper than a single unlock event. The real backing (YZi Labs, seven audits) hasn't changed, but two sessions of failed bounce attempts is worth respecting. Very low conviction, small size only if playing this.$BTR $HANA
LONG $VELVET
Entry: 0.1050
SL: 0.0850
TP1: 0.1400
TP2: 0.1800
TP3: 0.2400
