This drop wasn’t random—before this, $IRYS had already shown weakness on the order book.

When the price fails to keep pushing higher and can’t keep drawing from consecutive rallies at the top, that’s when I start to get cautious. A lot of people only look at the price still sitting above, but they ignore the fact that each rebound is making lower highs and the bids are getting thinner each time. The key is right here: around 0.03013, I chose to open a short—I’m watching to see whether the main players stop pushing further up.

Now the price is pressured down to 0.01302, and this position is up +1117.48%. The market’s downside room has been released faster than expected. In plain terms, shorts make money not because I want it to fall, but because the order book itself gave the direction—once a counter-expectation pullback is confirmed, you can’t keep holding with a long-bias mindset.

For now, I’ll first take care of most of the profits. The remaining small position will be held with a protective level—if the strength of any rebound isn’t right, I’ll exit directly. The most important thing in trading is to stay alive and protect profits.

If you miss it, you miss it—don’t chase. Wait for the next opportunity.

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