Going to sleep now. Yesterday and the day before, I bought spot BTC, ETH, BNB, BCH, and DOGE. When it dropped below 60050, I reduced some positions, keeping a base position. It should still bounce a bit from here. The overhead resistance areas are 602–603 and 606–608. Some people got trapped buying the dip. Right now there’s no sign of a wick forming on the daily chart in the morning. I reduced positions because I wake up around 3–4 PM, and I’m not sure if there will be another retrace after midnight. Reducing allows me to sleep without worry.

Trading spot against the trend these two days has been a bit tough. If you hesitate even a little while reducing, the drawdown can be severe 😂 (for example, DOGE: last night I hesitated at 0.0707, and it dropped straight back to 0.0718, making all the gain vanish 😂). If I hadn’t hesitated when catching the wick these past few days, I would have taken three waves already... So being overly patient doesn’t always bring “rewards”; entry timing still matters.

Let’s review historical price action: 2024.7.5, 7.8, 2024.8.5, 2024.10.4, 2024.11.4, 2025.2.3. The declines that happen in the first half or early part of the month often become the “iron bottom” for that month. But those that occur at the end of the month are usually not short-term bottoms... This is one important reason why I’ve never dared to go heavy on spot buying the dip.

Of course, for friends who trade short-term, there’s no need to overthink. When it’s oversold in the short term—a 5-minute candle closes bullish, or the candle closes with a wick—just enter and take the wick bounce profit, regardless of whether the broader market is up or down. Intraday trading is unaffected.

There are still 55 minutes left. I don’t know if the 8:00 candle close will stay above 600. I’m not going to stay up to watch. Since I’ve already reduced, I’ll just go to sleep peacefully and see whether it’s a pleasant surprise or a shock when I wake up in the afternoon.

We cannot stay below 600 for a long time (more than 2 days); otherwise, the bottom we bought last night will most likely not be the bottom...