This long/short feels very comfortable, but the process is anything but easy. When $NEAR keeps getting ground down at high levels, the surface looks like it’s building up momentum; in reality, every time it surges higher, it gets pushed back. This is the range I’m most wary of— the more people watch for a breakout, the easier it is to get “harvested” in the opposite direction.

After entering around 2.5382, I didn’t rush to call the outcome. I first checked whether it could manage to reclaim the key level from above. What really put my mind at ease was that after the sell-off, the rebound didn’t have follow-through, and the funds didn’t continue to defend the market—this indicates that the orders above are starting to loosen. Now the price is at 1.9132, and +1747.19% is already in hand; it’s obvious that the market’s upside room has been released.

Don’t get carried away now. Profit isn’t a reason to let yourself get hot-headed. If you have a position, you can protect your profits—sell off a portion in batches, and keep the remaining smaller position to see whether the move continues to extend. As long as the pullback doesn’t reclaim the key level again, the bears’ tempo is still there.

But if you don’t have a position, don’t charge in just because you see profit. The price has already moved quite a bit, and chasing it isn’t a good value trade. Wait for the next rebound to fail, and then move when you’re at a more comfortable spot.

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