This round of bull market this year has been quite bumpy, with large fluctuations in the short term and not very friendly for the bulls. Therefore, try to keep the long positions and leverage low; I generally do not recommend exceeding 15% * 20 times for average players. Besides this, every trade must have a stop loss; for the past six months, I have basically placed a stop loss on every trade, which has become a habit.

Looking back, on the Sunday before the interest rate meeting, after bottom fishing at 99200, I targeted 102000, with a stop loss at 98000; after breaking through 102000 to 102900, I looked at 106600, with a stop loss at 103000, then aimed for 107700 and 108200, with the stop loss set at 102800, because I estimated that the pullback would go down to at least 103000. The result was a pullback to around 103050. This was the last long position above 100000, with pullbacks at 104888, 103888, and 103355, entering a total of 15% of the position at an average price of 104003. Before the US market opened that night, the floating profit was 900 points, and the stop loss was at 102800, clearly stating that if it fell below that, I would exit. Then in the early morning, it dropped to 98800, and I had already mentioned that 99200-98800 was a key support level below 100000, so I entered here with a stop loss at 98000. Subsequently, it rebounded to a high of 102800, but in the early morning, it crashed below 98000 directly to 96855 and 95755. Yesterday morning, I posted that the real bottom fishing was quick. During the day yesterday, it fell below 95000, approaching 90000 before stopping the decline.

For ETH, when the price was around 3960, the stop loss was set at 3880. After breaking below that, the stop loss became 3828, clearly stating that if it broke below this level, it would drop directly to around 3660. Then, if it broke 3660, it would go to 3526, and if 3500 couldn't hold, it would pull back to 3440. If it broke here, it would retest the 3000 mark or the support above 3000 at 3112.

Therefore, the places that need to have a stop loss must be defended; if it breaks below, you need to reduce your position or cut losses, and then buy back at the lower support; otherwise, you cannot trade. Unless you have unlimited bullets.