As the market continued its upward trajectory, many enthusiasts were filled with optimism. I firmly believed that the market would sustain its upward momentum, reasoning that it wouldn't reverse course to accommodate latecomers. But were there countless retail investors eagerly waiting to hop on the bandwagon below?
However, as this wave of corrections brought prices as low as 60,000, and some altcoins hit rock bottom, few dared to seize the opportunity. Despite the persistent calls to buy the dip, silence prevailed, revealing the grip of greed and fear embedded deep within us.
The market teaches us that fluctuations are inherent, with rises and falls being inevitable. Now, as the market rebounds to levels between 66,000 and 68,000, uncertainty looms. Will it break through upwards or pull back, returning to the 59,000 to 62,000 range?
Yesterday, everyone rushed to increase their positions to 80%, but today, it's prudent to trim them back to 70%. Only by returning to this safe zone can we rest easier.
While many criticized my cautionary stance before, I understand their reluctance to entertain such warnings during a bull market. Nonetheless, it's crucial to remember the importance of risk management, even when times are good. Let's all learn from this experience.