Opportunities always appear in panic, but panic is not necessarily an opportunity.

On the 5th, only those who can judge in advance that "the U.S. stock market is not a good thing if it does not break the circuit breaker" can be considered qualified leeks, rather than "the U.S. stock market is a bad thing if it falls". Because the U.S. stock market fell that night and Bitcoin rose, it was all caused by advance expectations. On the 5th, after the U.S. stock market opened low and did not break the circuit breaker, it was actually the best opportunity in August. In less than a week, many have recovered to their positions before the decline, and many have doubled. In the recent repair, many people have bottomed out due to the sharp drop, and their positions may soon return to the level of 66,000. According to experience, at this time, no matter what the subsequent market conditions are, the positions bottomed out on the 5th should be slowly taken out. Only by freeing up positions can risks be dealt with.

From the cases of my friends around me, for long-term holders, this round of market is actually torture. Whether it is mainstream or copycat, as long as you hold a full position from beginning to end, it is almost uncomfortable. So it may be better to hold half a position in normal market, increase positions when the market drops sharply, and reduce positions when the market rises sharply. The market rebounded for a week, with small retracements in between, and the largest one seemed to be 5%. My view during this period is: as long as there is a pullback, we can be bullish.