The current VELO chart with my 'April flash crash' thesis waves.

VELO is currently trading towards the bottom of the range, which could be a good sign that it has, or will, bottom soon. Personally, I think it will hit a slightly lower level on the charts before breaking out in the third wave, which will align with the fifth wave on the other charts I’ve shared, incorporating my 'April flash crash' thesis.

Keep in mind, it doesn’t have to bottom before the third wave to occur, but I think it’s likely. I’ll reassess as more information comes out in the coming days/weeks.

Good luck, and always use a stop-loss!