From July to November, at most it may probe the downside only one more time. Whether a second dip to the June low will happen is unknown. Because the monthly chart is already in the process of forming a bottom, if you extend the viewpoint to cover July to November, this period still falls within bottom consolidation and choppy, range-bound movement. This consolidation is building momentum, preparing for the arrival of the next round of bull market. Recently, ETH has been the strongest. In fact, with a coin-denominated long, you can first target short- to mid-term profits—seeing 2064–2112 is basically not an issue. Later, if it probes lower again, and if 1820 still cannot be driven below, then 1500 will be confirmed as the lowest point of this cycle. Even if 1800 breaks again, 1500 may not necessarily break. After all, the “plane” already landed in June, and the probability of it going down into the ground again is very low.

The main advantage of coin-denominated longs is that during the price uptrend, you can increase the number of tokens (increase your chips), and then sell the added chips at high levels in the latter half of the bull market.

In the first half of the bull market—over the one year before April 2028—is the period when reaching an asset peak is the easiest. If you don’t use the spot + coin-denominated “combo move” to manage it, asset growth won’t be significant. No matter how hard the U-denominated side tries, it can’t compete with the speed of the spot + coin-denominated double GDP growth. After the Bitcoin halving in 2028.4, BTC will move in a range with an upward trend: daily swings will widen, and each week and each month will see big spikes. There will be a major pullback once every month—once every quarter, at most. Even though the price keeps climbing, on the short term it’s easy to incur losses from volatility and drawdowns. At that time, coin-denominated longs are not suitable; only U-denominated shorts are. This is the strategic plan for each major cycle.