After this leg of the sell-off, the chart’s feel is very clear. $CHIP had been grinding sideways in the high range for a long time. Many people think that since it hasn’t dropped, it’s strong. I, however, think this is very dangerous here—because the price can’t go up, and the longer time drags on, the more it drains the bulls’ patience.

I opened a short position around 0.04312. I wasn’t watching just one candlestick—I was watching several consecutive attempts to push higher that didn’t go anywhere. In plain terms, the rhythm has changed: the buy-side can’t keep up. The weaker the rebound, the higher the probability that it will get hammered down further. It’s already been pushed to 0.03249. This trade’s profit is +1191.66%, and the directional move is clearly extending.

In terms of current management, I’m more conservative. First, take most of the profits off the table. For the remaining position, keep a protected stop and continue to observe. Don’t underestimate this kind of staged action. In futures, if you want to stay alive longer, it’s about making money without greed—and having a plan before a drawdown happens.

This trade is a short being realized; it’s not telling people to blindly chase it right now. Missing it means missing it. The market moves every day—don’t mess up your positioning just to “make up the ticket.” Wait for the next opportunity.

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