This is the typical move of sweeping the top first and then smashing down. A lot of people got lured in after that spike in $NIL , but what I’m watching isn’t the excitement—it’s liquidity.

After that needle-like wick appeared at the high, the chart immediately stopped getting follow-through. This spot is crucial. Around 0.07011, I chose to open a short. The reason is simple: after the push higher, it doesn’t continue; the retest can’t hold steady again, which indicates the supply above is starting to loosen.

Now the price has dropped to 0.03477, and the short position’s return is +2429.53%. The room for volatility is clearly opened. At the beginning, many people were still shouting to keep pushing higher. Then once it flipped, they turned around and started panicking. This kind of contrast is exactly where opportunities are most likely to show up in perpetual contracts.

I’m not planning to fight it out here. An 80/20 split and phased handling will be steadier: first protect the profits that have already been released, and let the remaining small position run with the price action. If you haven’t entered, don’t chase just because you see a drop. If you miss the comfortable spot, just wait for the next time a confirmed signal appears.

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