Everyone keeps asking:
“Is it time to short $VELVET ?”
My answer: be careful.
Crypto has a habit of destroying traders who try to call the exact top. When a narrative is hot and whales are in control, RSI, overbought signals, and resistance levels often stop mattering.
$VELVET ran from around $0.10 to nearly $2 in a matter of days. Throughout the move, countless traders tried to short every breakout and many got squeezed out as price kept climbing.
Right now, volume remains strong, new highs are still printing, and short interest continues to build.
Will it eventually correct? Of course. Every parabolic move does.
But the market rarely rewards traders who are early. In my view, the bigger danger right now isn't buying too late — it's shorting too soon.
That's how the biggest squeezes are created.