The market action in the opening is the easiest to get people excited—prices looked strong for a while, and many started chasing as soon as they saw the pump. Back then, I didn’t rush to get on board, because at high levels there were continuous thrusts that weren’t matched by follow-through and support. The pullback from the spike became more and more obvious; the short position only started moving around 0.4506 after confirmation.

After opening the trade, it didn’t go smoothly. Price first moved sideways and ground for a bit, then came another fake breakout. That moment really made me a little nervous, but the fake breakout didn’t hold. Selling pressure took back control of the order book, and the market shifted from hesitation to a heavy drop—around 0.2695 it had completely erased the earlier bullish strength.

The final post-trade review showed +985.55%, and this time it made me even more confident in the short thesis. It’s not because it dropped that I went bearish—it’s because the problem at the high end, where nobody is willing to keep taking delivery, has been there all along. If you can resist chasing, you’ll end up waiting for a more comfortable rhythm.

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