This move is a typical high-level sweep: it gets people in by briefly looking strong, then it drops hard. Too many people were tricked into it by fake strength. The $PIPPIN short was opened at 0.0210; now the price is at 0.017, and the profit is up to +375.04%. The market’s room for downside has been released very clearly.

At the start, the order book was still pulling back and forth, and a lot of people thought it couldn’t fall further, even treating each dead-cat bounce as a restart. But what really caught my attention was that after the spike pushed up, it didn’t follow through. Instead, it quickly fell back—showing it wasn’t a strong breakout, more like clearing out late longs and stop-loss orders.

I didn’t follow the emotions here. I waited for confirmation of resistance before letting the short keep running. During the downside, the hardest part isn’t seeing the direction—it’s not getting shaken out by mid-way bounces. Now that the profit is already there, if you have a position, remember to protect your gains. Handle it with an 80/20 split; the rest is just see whether it can keep extending.

If you didn’t catch it, don’t worry. Chasing at the end of a sharp sell-off is easy to feel awful. Don’t chase the trade or chase the low—wait for the next opportunity to reset and do it again.

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