This short position finally delivered. The sharp drop from the highs in $SLX made the market’s “taste” very obvious on the order book/chart. Back then, a lot of people were still watching for a rebound and thought it could keep pushing higher, but what I really focused on was that the support above kept getting weaker and weaker—once it got pulled up, it was immediately smashed. That showed the initiative was no longer in the bulls’ hands.

After entering around 0.21605, the process wasn’t comfortable. There were several rebounds in the middle that made it easy to shake people out. The key here is that the rebound didn’t manage to regain stability—instead, it kept pressing down the base. This kind of structure is more friendly to short positions.

Now the price is at 0.11723, and the unrealized profit is already +900.87%. The market’s room (potential) has been released pretty decisively. For brothers with larger positions, handling it with an 80/20 split in batches will be steadier: take some profits first, and then keep the remainder with a protected level to watch for any extension—don’t let the profits you’ve already secured get eaten up by a retracement.

This trade is about selling pressure under resistance at the highs—don’t chase wildly. If you didn’t get in, don’t be in a rush. Don’t chase the order—wait for the next more comfortable position to make your move.

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