Technical bear market, which refers to the adjustment phase at the weekly level, from the end of 2022 (2022.3-2022.10 belongs to the cyclical bear market) to now, BTC has gone through a total of 4 phases. The lows of these 4 phases all fall within the range for accumulating spot positions. During the remaining time, buying spot positions generally falls into the mid-to-high price buying range, yielding little profit, and one would need to time the exit near the peak, making large investments unnecessary.

For example, since April 7, the rally after BTC's fourth unit adjustment cycle has yet to complete. It is now inappropriate to buy spot positions because we are currently at a high level, and no one can clearly say where the peak will be, so we can only test by time points. Therefore, the upward space after the new high is considered a blind spot. If you exited early, there is no need to chase the highs frequently.

Taking ETH as an example, from the end of 2022 to now, there have been a total of 3 occurrences of the technical bear market. The bull-bear dividing point for ETH is 2800. If it falls below this, we directly look at around 2100, and if it breaks 2000, we see 1600-1440. Thus, 2800 is the starting point for ETH entering the bear market. Therefore, during non-bear market phases, buying ETH spot positions can only be done at most around 3008, 2777-2666, where it is close to the strong support at 2800, buying 0.5 of the position to cushion. The true bottoming price range for spot buying is around 2112-1400. As for ETH spot above 3000, at least I have no interest in entering the market.

Playing with spot trading is simple. In every cycle of the bull and bear markets, I always gain significantly in the first half, as the spot accumulation is at the cyclical bear market bottom. During the period when BTC rises 30,000 to 50,000 points, because I quickly established long positions in terms of the currency, I was able to rise quickly. After that, it was just casual trading.