This wave is not just a simple drop; it’s a typical pattern of sweeping after the market tops out, then killing. $LINK was pushed up repeatedly in front, and many people thought it would continue to break through. But once the sell-side volume picked up above, it was smashed down. Once panic set in, the short side actually opened up more room.

Back then, what I was watching was the reaction after the wick/poke. If it were truly strong, the price should quickly reclaim back. But LINK didn’t; instead, it couldn’t hold in the high range, with sell pressure coming wave after wave. After shorting around 9.420, the most important thing is not to look at a single K-line, but whether it can reclaim the key level again.

Now the price is at 8.55, and this trade’s profit is +657.58%, with the volatility room clearly opening up. Basically, the rhythm has changed: the more the longs try to push up, the easier it is to get knocked down by the overhead supply.

If you have a position, don’t get too carried away. Use 80/20 to handle it in batches—move the protection level downward, and keep your profit first. If you haven’t entered, don’t rush just because you see a drop. Don’t chase the trade; wait for the next pullback/relief bounce to a comfortable entry level.

$BTC $ETH