This time, I didn’t go to catch a “knife,” and I didn’t wait for a big drop and then temporarily chase a short. After the price surged to a high earlier, the pull-up looked exciting, but each time it moved upward, it was quickly pushed back—showing that the people willing to keep catching weren’t fully decisive. When this signal appeared, I started paying attention to whether the shorts would truly start pushing.

From 277.1 to 190.2, along the way there were pullbacks, as well as uncomfortable needle-like spikes. Once short-term sentiment heats up, it’s easy to get off early. The good thing was that I didn’t treat a single rebound as a reversal. After the sell pressure kept releasing, the market finally moved out in line with my original judgment, and the result was recorded as +1511.99%.

In many cases, missing the first leg isn’t the worst thing. What’s most scary is seeing the drop and then panicking to chase. At this point, I’d rather wait for confirmation than catch a knife amid high volatility. In the end, being able to hold on to this segment came down to understanding how price meets resistance at the highs—not guessing precisely at every step.

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