This recent rally looks pretty strong. After several consecutive spikes to the upside, it made people think it was going to run higher for a while—but what I’m watching isn’t the superficial percentage increase. It’s the sell pressure left behind after each push up. The price dropped from 0.02762 to 0.01463, and the final result for this trade was +1153.28%.

When I first opened the short, I didn’t feel at ease. After all, many people around me were still waiting for a breakout, and the chart kept tugging back and forth. The most uncomfortable part was that the price just wouldn’t drop. A few small bounces felt like they were forcing me to get out, and I almost ended the trade early out of impatience.

What truly made me keep holding was that, at the high end, there was never any fresh buy-side support. Each time it surged and then pulled back, it did so faster than the last. The bids looked lively, but in reality they couldn’t catch the sell-off. The subsequent drop was like exposing all the supposed “strength” from earlier.

After replaying this, I’m even more convinced by the “anti-human-nature” approach. It’s not that you turn bearish only after it falls; it’s that the weaknesses were there all along. Most people were simply distracted by the appearance of the pump. Once the short thesis played out, the most important thing to remember is not to chase the rally just because of emotion.

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