$BTC Bitcoin has reached 79,000, but I am reducing my position

Honestly, it takes courage to post this headline. Everyone in the group is shouting "80k will break," "push to 100K," and I say reduce my position now, I will definitely be scolded.

But trading has never been about making money where there are many people.

After Bitcoin broke above $79,000, I did three things:

First, I lowered my contract leverage from 5x to 2x. Not because I’m not optimistic about the future, but because the volatility at this level is not suitable for high leverage. Geopolitical-driven market movements have a characteristic: they come quickly, and reverse just as fast. Any small change in the Middle East ceasefire negotiations could trigger a sharp move.

Second, my spot holdings remain unchanged. My BTC spot position has been held since 2023, experiencing many ups and downs. I only reduce my futures contracts, not my spot holdings. Long-term positions are meant to withstand cycles, while short-term positions are for hedging risks.

Third, I set two lines. Take partial profits above 80k, and set a full stop-loss at 77,500. I do not participate in the fluctuations within this range.

Many people think trading is about predicting rises and falls, but that’s not it. The essence of trading is managing your greed and fear. When the whole market is shouting "it’s stable," that’s often the most dangerous time. When everyone is saying "it’s going to zero," spring might just be around the corner.