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A few days ago when I was watching $AVAX , my first impression wasn't that it was going to drop, but that the bulls were getting tired. That kind of movement—pushing up, pausing, then getting knocked back down—can easily be mistaken for shaking out weak hands, but sometimes it just means the buying pressure can't hold.
I was focused on AVAX mainly because of repeated resistance overhead. The price action from 6.582 to 6.522 validated that quite clearly. But honestly, it wasn't without some back-and-forth. There was one retrace that nearly threw off my conviction, but after it failed to reclaim the key zone, I held on.
This trade is currently +65.75%, good enough. My approach wasn't to hold stubbornly or exit all at once—instead, I scaled out in parts, moved the stop down simultaneously, and left some room for the move to continue.
Many think short trades make quick money, but the drawdowns are just as fast. If I missed the entry at this level, I wouldn't chase it. I'd rather wait for the next bounce and the signal that follows.
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