This crash at #Velvet was brutal.
On the 1-hour chart, it plummeted straight from 1.9 to 0.35.
The Bollinger Bands are opening downwards, and the bearish trend is completely out of control.
Current price is 0.38, and the rebound is weak with low volume. The upper middle band at 0.54 is strong resistance.
Don’t rush to catch the falling knife until we break above that level; you could easily get wrecked.
What do you all think? Can we stabilize around 0.35, or are we heading lower? Let’s chat in the comments.
I’ll share any stabilization signals in the Planet Lab, so stay tuned and don’t miss the rhythm $VELVET
On the 1-hour chart, it plummeted straight from 1.9 to 0.35.
The Bollinger Bands are opening downwards, and the bearish trend is completely out of control.
Current price is 0.38, and the rebound is weak with low volume. The upper middle band at 0.54 is strong resistance.
Don’t rush to catch the falling knife until we break above that level; you could easily get wrecked.
What do you all think? Can we stabilize around 0.35, or are we heading lower? Let’s chat in the comments.
I’ll share any stabilization signals in the Planet Lab, so stay tuned and don’t miss the rhythm $VELVET