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I just checked my account, and today BTC dropped from 68,653 to the current 66,901, a 1.78% decline. Honestly, I feel completely unaffected, even a bit amused😅.
Why? Because the Fear and Greed Index has already fallen to 12, indicating extreme panic! At times like this, everyone is shouting that it's the end, but I actually think the opportunity is here. I remember the last time the index was this low, I thought the same, and it turned out to be right.
Today I was planning to reduce some positions around 67,000, but I hesitated and didn't act, watching helplessly as it broke below 67K. But that's okay; now I feel even more confident at this level. The lowest point yesterday was 65,712, and today it's mostly fluctuating in this range. The funding rate is also negative, indicating there are quite a few short sellers.
What's most interesting is that the trading volume of 1.349 billion isn't small, and a 4.48% fluctuation is quite normal. The market is cleansing, but there's no panic selling. This kind of "boiling frog" decline often signals a bottom.
At the current level of 66,900, I think the risk-reward ratio is pretty good. If it breaks below 65,000, I’ll consider reducing my positions; if not, I’ll keep holding. Anyway, everyone is so panicked now, why should I follow the panic?
Sometimes, trading is about going against the crowd's emotions, especially in such extreme panic. Of course, stop-losses should be set, but maintaining a steady mindset is key.