That drop just now was brutal—after $IRYS swept through the highs, it headed straight down. A classic move: first manufacture hope, then pull the hesitant bids down with it. A lot of people saw that initial push and thought it would keep pumping, but instead they flipped it and it printed a selloff pullback.

My short was opened at 0.03013. The current price is already at 0.01323, and the profit shows +1104.41%. Whether you can hold this short comes down to this: after the fake breakout, there was no continued surge in volume. Instead, the price quickly dumped back into the range, which suggests that the move above wasn’t a real breakout attempt—it was just draining liquidity.

This kind of market is the hardest on your mindset. People chasing longs get “course-corrected” immediately after entering. If your short protects the position with a properly set stop/loss level, you can actually ride the volatility range instead. Now that the profit is fairly significant, I think the 80/20 approach is more stable: lock in the bulk first, and then keep the smaller position in line with the rhythm to see whether it can continue probing lower.

Don’t chase shorts emotionally after a big drop. Even a small rebound can feel bad. If it doesn’t work out this time, wait for the next opportunity—patience is worth more than impulse.

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