If you're interested, you can refer to the previous bull and bear market trends of Ethereum. While it's not possible to predict the market perfectly, it can reflect the market sentiment at the time, which is very similar to now. The black swan event in the US stock market that was mentioned before has not happened yet, and no one knows when it will trigger a crash. Therefore, the position around the previous bottom of 891 still has some reference value. However, bottoms tend to gradually rise, and I definitely won't place orders just below the previous low. Around 1200, after a 50% drop, I will absolutely go all-in with the remaining position.

Below 1900, I plan to hold a medium- to long-term position for a phase rebound. If there’s no rebound, holding through the next cycle could double the investment. The risk-reward ratio is reasonable. Beginners with weak psychological defenses and who are afraid to hold positions should wait until the US stock market black swan has played out, to avoid cutting losses after a decline.

Currently, I have a long position at 1973. Since I opened the position, I’ve been prepared for a 50% drawdown and holding through it. I generally don’t aim to buy at the very bottom. After entering the spot market or investing all my funds at once, I will wait until I confirm the bull-bear transition and the start of a new bull market before starting to leverage and roll over positions.

Leverage is a double-edged sword; cultivating a long-term mindset is essential to use leverage flexibly.