This short position finally got opened. The drop from $AVAX ’s high just now was very straightforward in terms of how the order book reacted.

I entered this short around 9.312. What really made me pay attention was that the rally stopped gaining volume—every time the price was pushed higher, it got smashed back down. A lot of people were still waiting for it to continue surging, but in reality, something here was already off. I’d already been watching this level; once the signal showed up, I didn’t want to hesitate anymore.

Now the price is at 6.704, and the unrealized profit is already up to +1984.19%. The available downside move has been released pretty decisively. Holding the short isn’t about guessing the top—it’s about seeing that after it met resistance, the bulls stopped being able to hold on with hardheaded sentiment.

The biggest fear with this kind of down-move profit is greed. I’d feel more comfortable handling it in an 80/20 split: lock in part of the profit first, and then keep the rest with protection levels while watching for further extension. If you haven’t gotten in, don’t chase the short—wait for a pullback to get a more comfortable entry.

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