This short position closed out very decisively. The moment $IRYS dropped from its high, the feel of the order book changed. A lot of people were still waiting for a pullback to bounce back up, but what I was watching was the consecutive breakdown after overhead pressure—especially after the short entry around 0.03013; the rebound was clearly not gaining strength.

I had already been paying attention to this level beforehand. What truly confirmed it was that every time the price tried to push higher, the sell-side would smash it back down, indicating that the bulls’ handoff had started to look hollow. Now the price is at 0.01416. This leg of the drop has already produced +1042.32% profit—the room in the move has been released fairly completely.

The biggest risk with this kind of trade isn’t failing to make money, but making money and still wanting to take the whole thing in one bite. For larger positions, you can handle it in batches using an 80/20 split: first lock in a portion of the main profits, and then let the remainder extend with a protection level. Don’t chase shorts here—if you miss it, don’t rush. Wait for the next more comfortable entry.

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