When a lending position is close to the liquidation line and there are still "three steps" to go, I usually stop telling myself grand narratives and focus on three small tasks: slightly reduce leverage, pay down what I can, and don't wait until the last straw; prepare stop-loss/replenish margin actions in advance, otherwise my hands will shake if a waterfall occurs; and also split up the position, don't tie yourself to a single chain.

Seeing large transfers or movements in exchange hot and cold wallets on-chain, some people say "smart money is coming," honestly I see it more as noise.
The signals I truly care about are: whether the liquidation orders are starting to trigger in a chain reaction, and whether slippage suddenly thickens.
Getting close to the red line, the worst thing is still thinking about holding on, but since I don’t go all-in, I prioritize saving my life first.