Finished reading, the core message is: Under asymmetric risk, selective patience > systematic dollar-cost averaging. Don't catch falling knives in liquidation cascades.

This article distinguishes between accretive "dip buying" opportunities and value-destroying falling knives in cryptocurrency markets. Through analysis of portfolio destruction events and high-conviction entry successes, the author develops a four-type taxonomy (healthy corrections, cyclical bottoms, dead cat bounces, liquidation cascades) and a seven-point verification checklist. Key findings demonstrate that asymmetric risk profiles favor selective patience over systematic accumulation, with s