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$$KORU dropped to 455.95, down 18% in 24 hours, and the previous high of 593 only held for one day. I currently hold 40% short position with a floating profit of 12.3%, and just placed my cost base below 450. This is not a pullback; it's a sell-off. A trading volume of 1041M indicates panic selling is feeding in, with retail stop-loss orders stacked neatly, and algorithmic orders are absorbing, but I won't add positions until the trend reverses.
My trading plan is very narrow: if it consolidates firmly between 450-460, I will add another 10% short above 475, with a stop-loss at 490 and take-profit at 425. If it breaks directly below 450 with volume, meaning 450 is not the bottom, the second wave of selling pressure will bring volume to the 410-420 range. I will add 20% short during a bounce back to 448, move take-profit down to 435, keep stop-loss unchanged at 448.5 to lock in floating profit. Regardless of the scenario, total position will not exceed 60%, and 58% of the account is in USDT, reserved to catch panic selling.
Two directions expected: first, a rebound repair to the 470-480 area before further decline, which will be a retail exit point to break even, and I will use that surge to add shorts. Second, continue dropping below 440, and the morning Asian session will deepen the sell-off. I need to place limit orders at 410 to buy some spot for a sharp rebound.
Note two numbers: if the support at 460 fails to hold, the next level is 428. The high volume anomaly at the full-day high of 593 indicates heavy trapped positions around that level, and rebounds will encounter resistance and consolidation. I won't hold stubbornly; I will cut losses when necessary. Don't fight against the money. Updates in the comments.