This bear market is a bit different from the previous ones.

Yesterday, K33 released a report, with the core message: traders have never been so pessimistic.
But interestingly, excessive pessimism is actually a form of bottoming out.
The logic is simple: when everyone is already bearish, who will come to sell?
Those without chips can't push the market down.
Bitcoin slid from 126k all the way down to 77k, a nearly 40% drop.
But feel this: no stampedes, no chain reactions of explosions, even panic is slow and gradual.
It's like you know you're about to get punched, so you tense your muscles in advance; when the punch lands, it doesn't hurt as much.
This makes me think of something.
The most dangerous thing in the market isn't the bear market itself, but the rebounds within the bear market that make people think the bear is gone.
From 76.8k to 82k, initially there was a divergence between volume and price, then trading volume picked up, and many reloaded their positions.
And then? It continued to decline, and even now, the daily chart structure hasn't flipped back.
The real question worth pondering isn't "how much more will it fall," but "will there be no V-shaped reversal this time?"
People used to be accustomed to the last few bull markets, assuming that after a sharp decline, there must be a sharp rise.
But what if this time is a U-shaped bottom? Or a rectangular bottom, and it drops another half a year at the bottom?
My answer has been discussed countless times in live streams and explained in detail in articles.
But I think, the most valuable thing in this round isn't guessing where the bottom is, but surviving until the next round.
Save your bullets, don't fully load your positions during the rebound.