The inevitable test on the road to a bull market: how to overcome volatility and hold onto chips steadily | Volatility is the eternal winner, and those who fear high are unlucky Obviously, we have once again reached a critical moment where long and short are playing dumb together—— Technical aspect: MA120 is down, large account movements are occurring, the market is temporarily lacking in propellant, and the chart shows a downward trend no matter how you look at it; Fundamentals: Macro and on chain data are also changing, which raises doubts about whether it is the graphics that affect the fundamentals or if the fundamentals are acting in conjunction with graphics? Emotionally speaking: Some people believe that Q4 will definitely rebound, after all, the interest rate cut in September and the upcoming macroeconomic easing are here, so the more it falls, the more it buys; Investment market: No one can guarantee the truth, volatility is the eternal winner. two ️⃣ How to deal with it—— During the process of a bull market reaching its peak, there will be at least three instances of such long-term sideways movements or even sudden declines, making people think it is a collapse and surrender their chips; At this point, it is crucial to determine whether one can make money. Apart from market sentiment itself, the most important thing to pay attention to is the overall market trading volume The normal process of a bull market should be "volume increases, price increases", which means that the trading volume of the subsequent wave of increase should be greater than the trading volume of the wave of increase before the adjustment. If there is a clear divergence in any wave of upward trend, that is to say, the trading volume of the new wave of upward trend has not reached a new high, or even lower than the trading volume of the previous wave, but the point level has repeatedly reached new highs, this is a highly dangerous signal, indicating that the market may change at any time. You should know that in this situation, once a disk change occurs, the destructive power will be extremely high. three ️⃣ What's the situation now? At present, whether it is market sentiment, stablecoin issuance, or trading volume, it is an unexpected growth period. Therefore, liquidation at this time is definitely not reasonable. If you are not at ease, you can make a small reduction based on your own psychological judgment and market judgment, and then come back at a certain psychological price, but you need to strictly follow your own strategy. For example, using the 30 day moving average as a reference, breaking the 30 day moving average will result in some chips being released! Why choose the 30 day moving average? Because if a shorter moving average is chosen, daytime fluctuations may break levels, leading to misjudgment of adjustments and missing out on larger market trends. But if a long-term moving average is used, due to the already large upward slope at this stage, the corresponding dispersion angle of the medium and long-term moving averages is also large. If a long-term moving average is used, the profit drawdown will be quite terrifying, which is obviously not what we want. Adhering to one's own principles based on one's investment style and position management is the best coping strategy! The final words—— I feel quite at ease with the current proportion of my position. I made some selling actions at a relatively high level earlier, so I choose not to move at the moment! But if I were full now, I might do some operations. I hope everyone can: Adhere to principles and rational analysis, don't be afraid of heights, don't be afraid of heights, don't be afraid of heights! Those who are afraid of heights are all unlucky!