This wave was quite fierce. After that false breakout at the $TAO high, I felt the market was off.

I had already noticed this level. Near 274.6, the upward move lacked volume, but significant selling pressure emerged as soon as it hit key resistance. Many people saw the rally and wanted to chase, but the real change occurred at the moment of the pullback—the price was not quickly recovered, indicating that overhead supply was loosening.

Now the current price is at 203.1, short positions show a floating profit of +1253.93%, and the volatility range has opened up. In trading, the most comfortable thing is not guessing the top, but following after a failed breakout. Especially this kind of contrary decline often takes down both hesitant traders and those chasing longs.

I don't plan to hold this position for long. 80% will be taken profit first in batches, and 80% with a protective stop will continue to watch whether it can extend. Profit is not the end; protecting profits is the key. The counter-rally during the downtrend will be very sharp. Don't give back control to the market. If you missed it, don't chase shorts. Wait patiently for the next clear signal.

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