That move was fierce. $IO first swept downward, scaring many people out, but then it turned around and pumped back up. My long position went from 0.16220 to 0.16934, and now the ROE is +305.56%. This is a classic washout before the move.

The most interesting part of the chart at that time was that the drop looked scary, but it didn't form continuous selling pressure. Instead, it quickly recovered key levels. In simple terms, after the panic was shaken out, the real buying appeared. The structure has clearly changed here.

I didn't blindly cut my position because of that wick. The reason is simple: after the liquidity below IO was eaten, the price reclaimed the level, and the bears' rhythm was disrupted. Now the trend extension is clear, and the profit room has been given. In terms of position management, I prefer to take partial profits at +305.56% first, and keep the remaining 44% with a protective stop to continue following.

Don't let a wick take away your mind in this kind of market, and don't impulsively chase after a rally. Miss it and it's okay. Don't chase. Wait for the next opportunity, and enter at a more comfortable level.

$BTC $ETH