$BTC It’s still too weak—couldn’t even hold above 640. Once the lower boundary of this channel I drew gets broken, Bitcoin will have to kick off its downtrend again. The rebound level of 640–650 that I predicted last week was basically spot on, with an extreme at 670. Generally speaking, an “extreme” is caused by some sudden unexpected situations, and the probability of that happening is quite low.

Based on my own analysis, I entered a short at 641. The analysis was accurate and the execution was solid. This trade achieved the unity of knowledge and action—the analysis guided my trading to make money.

If Bitcoin, as I predicted, moves downward, then the worst case will be the altcoins. The SUI and APT I hold are down about 40%—still spot. I entered EDU at 0.045, and it’s almost cut in half. These altcoins are really disgusting!

From now on, I’m definitely going to pay attention: when my view is clearly wrong, I must clear out everything, leaving not a single altcoin. When altcoins fall, they really have no bottom. Luckily, I controlled my position size, so the loss isn’t big. If it drops further, I’ll add back one more. If I had been heavily leveraged, I would have already been wiped out. Also, my recent futures have been doing well, so I managed to recover the losses.

Hype also achieved the unity of knowledge and action. I spotted the level, and when it reached it, I went in right away. I’m in profit now, waiting.

Overall, the continued outflow from ETFs isn’t a good thing. There’s one variable here: whether the United States will take action against Iran. Recently, Iran has initiated attacks on Israel and the US has been proactive—but the US is relatively restrained. Trump is also worried about it affecting the midterm elections. Plus, the US stocks have fallen, and Israel is really annoying—if they keep fighting, Trump can’t even shout “fuc k” at Israel enough times; it’s useless. No choice—who calls the shots is that their Jewish patrons are the big money guys. As long as the US doesn’t act, Bitcoin still has a chance to rise. Once they act, it will keep on falling!