As long as my lending position is within three steps of the liquidation line, I basically start to panic... The first step is not to look at the candlestick chart, but to check what assets I’ve actually collateralized; if there's high volatility, don’t try to tough it out.

The second step is to review the permissions/upgrades again—can I change parameters at any time, is the price feed single-point, and honestly, don’t expect the protocol to always follow your wishes just because you're on the red line.
The third and most basic step is to add some margin or reduce my position first—better to earn a little less than to let the liquidation bot eat my lunch.
Recently, everyone has been linking ETF capital flows, U.S. stock risk appetite, and crypto market rises and falls for analysis. I find it quite lively, but honestly, I react a bit slow...
Anyway, I only focus on one thing: when I get close to the red line, I just want to survive, no need to tell stories.