After this round of selloff, the tape’s “feel” is very clear. $NEAR has been grinding sideways at high levels for a while; many people think that if it hasn’t dropped yet, it’s strong. I actually think this is very dangerous here, because the price can’t go up—if time drags on, it will just wear down the bulls’ patience.

I opened a short around 2.5382. I’m not looking at just a single candlestick, but several consecutive attempts to push higher that all failed. To put it simply, the rhythm has changed: the buy-side can’t keep up. The weaker the rebound, the higher the probability that the next move will be a drop. It has already been driven down to 2.0172; this trade’s return is +1457.01%, and the move looks like it has extended clearly.

In terms of current handling, I’m more conservative. First, lock in most of the profits; keep the remaining position with a protective level and continue to observe. Don’t underestimate this kind of staged action. In perpetual/derivatives markets, staying alive longer depends on making money without being greedy, and having a plan before the drawdown hits.

This trade is about realizing the short, not encouraging people to blindly chase it right now. If you miss it, you miss it. The market fluctuates every day—don’t mess up your position just to make up for a missed trade. Wait for the next opportunity.

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