This wave of selloff ate the profits cleanly. After $TAO lured longs with that move near the highs, the subsequent price action was basically taken over by short-side momentum.

I wasn’t looking at just one line; I was watching repeated failures around 274.6. The price surged up with no takers, but the pullback grew faster and faster. Something was already off here. A lot of people see it spike and feel like chasing, then as soon as they chase in, they get pushed back down. The market’s biggest fear is this kind of “looks strong, but is actually fake” price action.

Now the price is being pushed down to 211.6, and my short position is sitting on an unrealized gain of +1104.86%, with the market’s downside room released pretty well. My approach is simple: 80/20, scale in batches—lock in most of the profits first, then keep the remaining small position with protection levels in place. If the downtrend can extend further, I’ll stay with it; if it bounces and goes back up, I won’t let the profits retreat significantly.

This kind of trade isn’t about bravery. It’s about who respects the rhythm more. If you didn’t catch it, don’t rush—don’t chase shorts, and don’t chase longs either. Wait for the next opportunity to act.

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