In a falling market, don’t be superstitious about trend lines; when there is a one-sided decline, those lines are just meant to be broken. The market always moves in the direction that requires the least effort, and right now, falling is much easier than rising. These past two months have clearly been a rhythm of big dump + small rebound. Don’t rush to buy the dip; if you want to trade, do swing trading, take your profits and run, don’t get attached to the battle, and I’ve been reminding you of this all along. The current decline has not reached the bottom yet, and the cost-effectiveness of both long and short positions has become average, so hold steady.

I feel that this cycle is too complicated. In fact, I don't think the pessimism comes from Bitcoin, but from altcoins. Most retail investors hold altcoins. Over the past few years, Bitcoin has gone from 1.5 to 126,000, while altcoins have fallen behind and failed to keep up. What's pessimistic is that many who held onto their beliefs have been holding for years, and despite holding for years, the price keeps going lower. They have not been able to wait for that crazy surge to double.

Because I have experienced it, I have lost a lot of money.
Because I have experienced it, I am particularly careful;
Because I have experienced it, I respect the market;
Because I have experienced it, I won't eat the last bite;
Because I have experienced it, I do not crave.
Because I have experienced it, I know it's better to miss out than to make a mistake.