The recent price action in the earlier part has been quite frustrating. The price hovered around 0.05794 for a long time; on the surface it looked strong, but in reality every rebound failed to follow through. I wasn’t watching those few candles that pushed the price up—I was watching the repeated spike-and-retrace that kept showing up at high levels.

When I first started shorting, I also wasn’t sure. After all, the market didn’t immediately dump; instead, it kept making several quick wicks. Many people probably feel the same: you think the direction is bearish, but you’re always afraid that the next second will blow you up. So you end up repeatedly confirming whether you’re catching a falling knife.

When the price came near 0.04029, the shorts finally took over the rhythm, and those earlier fake breakouts were cashed out one by one. In the end, this trade recorded +601.84%. It turned out more solid than I expected. Most importantly, I didn’t panic and jump off just because of a brief rebound.

This time it made me more confident in an old lesson: as long as the pressure at the highs hasn’t disappeared, don’t get led astray by a few rebound K-lines. It’s not because it has fallen that I’m bearish—it's because the sell pressure I saw earlier has been there all along; the market just took a bit of time to deliver the answer.

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