The prior price action ground a lot of people down to the point of losing patience. The price traded back and forth in the high range; occasionally it even came with a quick spike upward, looking like it was about to keep pumping. But after the push, it immediately fell back—buyers who chased didn’t get any gains, and instead got trapped in their emotions.

I noticed around 0.2144 that this kind of strength was getting increasingly hollow. I waited until the rebound failed again before letting a long entry. At first it wasn’t smooth—the market tried a few small upward pushes, and I even had thoughts about getting out. Luckily, I wasn’t thrown off by short-term noise.

As the price pulled back to 0.1975, the sell pressure above was fully released. The long finished the shorts’ covering/fulfillment, and the result showed +379.6%. After this drop, I became even more confident in my original view, because it wasn’t a sudden shift to bearishness—the inability of the bids behind the strength to keep up was there all along.

Many retail traders are most likely to get carried away by the mood at high levels. When they see the rally, they get itchy to jump in; when they see a pullback, they don’t dare to trade. What’s really worth remembering is this: after you see a fake breakout, don’t chase—wait for the order book to work out the answer on its own.

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