Many were still waiting for a rebound to go long, but $IRYS directly exposed the weakness. To put it plainly, this drop wasn't sudden; the high levels earlier were already off, but most people just didn't catch on.

The core thing I'm watching is simple: after entering a short near 0.04832, as long as the rebound cannot reclaim the strong zone, the bears still hold the initiative. The key point is that the price doesn't just drop once and end; each retrace is suppressed, meaning the selling pressure above keeps waiting for buyers to step in.

Current price down to 0.01419, floating profit +1390.76%, the trend extension is obvious. At this level, profits have been made, so don't just enjoy the ride. An 80/20 staged approach is more suitable for this kind of market: take most of the certainty first, keep the remaining position with a protective stop to observe – follow if it continues, but don't give back the profits if it doesn't.

Making money on the downside is most dangerous when you get carried away; the smoother it goes, the more you need to stay calm. If you missed this wave, don't chase; wait for the next opportunity and a more comfortable entry.

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