At first, I wasn’t in a hurry to chase shorts. After $CHZ kept rallying for a while, it looked quite lively, but every time it pushed up, there was a clear room for retracement. A lot of people who see this kind of move tend to get itchy to act—I, however, waited until around 0.03382, where I saw pressure and confirmation, before getting into the short.

Those pullbacks in the middle were really torturous. Price kept flipping back and forth, as if it were deliberately testing patience. I also got anxious at times, because shorts encountering pin wicks can easily get shaken out. But what I kept watching was the high area that never had sustained follow-through—not just a few small bullish candles on the short term.

Then the market moved from 0.03382 down to 0.01404. Once the downtrend really got going, the “grinding wheel” from earlier had its answers. The result was recorded at +2817.99%. Holding this trade wasn’t because I was bold, but because I didn’t change my original judgment due to a fake breakout.

After this run, I’m even more convinced of the short thesis. It’s not that I turned bearish only because it fell. The issues above have always been there; I just waited for the selling pressure to truly release, and only then did the market put the answer right in front of my eyes. The impulse to chase pumps should be curbed.

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