Positioning is about layered risk control, dynamic adaptation, and strict boundary enforcement—never changing allocations arbitrarily due to emotions. In day-to-day execution, the base structure is to hold BTC as the foundation (accounting for more than half), keep ETH as a steady supplement, and isolate a flexible, niche, low-weight position. Positions are built only with idle funds, while overall crypto assets strictly limit the proportion of total assets, preventing full allocation or heavy concentration betting on a single coin. During the ranging-and-bottoming phase, maintain the basic periodic investment position and do not aggressively add to expand positions; when liquidity recovers and risk appetite rises, slightly increase the flexible positions, never suddenly spiking them all at once. When macro conditions weaken and negative catalysts become prominent, shrink high-volatility positions, and return to a defensive core holding strategy that prioritizes risk avoidance. For any single high-risk target, the isolated allocation proportion has an upper limit; if the fundamentals collapse, exit immediately. In the profit period, reduce flexible positions in batches and realize gains step by step. When a drawdown reaches the risk-control red line, promptly reduce the overall position size, always leaving room for a buffer. Stick to fixed-amount execution, never adjust up or down impulsively based on intuition. In the long run, rely on scientific position management to withstand volatility, protect principal, and steadily realize returns over the cycle. #