The recent drop was very decisive. $IRYS was consolidating at highs when it suddenly lost a key level. The market had an obvious feel of forced support, with many thinking it was just a normal pullback, but shorts started to cash in directly.

My short entry was at 0.04832, and the current price is already at 0.01388, with my profit showing +1402.57%. The key point is that each previous bounce did not show real aggressiveness; instead, selling pressure from above grew heavier, indicating that buyers who chased in are becoming passive.

At that time, what I focused on was not how much it had dropped, but whether the rebound had strength. As long as the rebound failed to reclaim, there was reason to hold the short. Now that the market space has been released, those with heavy positions should not stubbornly hold against a pullback — handle part of it with an 80/20 approach, then protect the rest with a stop to maintain rhythm.

The worst thing in trading is being right but not knowing how to close. Now is not a time for excitement, but for protecting profits. If you missed it, don't chase — no chasing trades, wait for the next opportunity, wait for a more comfortable entry to appear.

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