Shorting EIGEN daily, it has nearly quintupled in four days, and currently, EIGEN plans to take profits. Besides EIGEN, I still have four short positions and plan to take profits in batches. The daily chart for EIGEN has already completed a second test, although it may break down as BTC declines, I will also take profits.

Note that taking profits does not mean you can catch the bottom! The second bottom test for BTC has not yet been completed, and after the second test, EIGEN may drop even more. Trying to catch the bottom can lead to being stuck; if you can’t resolve it within a week or two, it will be uncomfortable.

For those looking to catch the bottom of altcoins, wait until the second test of BTC is completed and a clear rebound appears before making any moves. It’s best not to try to catch the bottom without a significant rebound.