#市场情绪与链上结构 When I see this analytical data, my first reaction is to remind everyone to stay calm. Market sentiment and on-chain structure are both pointing to weakness, with short-term holders at a loss and support levels turning into resistance — these signals are indeed worth paying attention to, but it’s more important to understand what they imply.

I have seen many investors fall into two extremes at such moments: either panic and sell off or stubbornly refuse to accept reality. Actually, neither is necessary. The key is to ask yourself three questions: First, is my position within a tolerable range? Second, what is my investment horizon? Third, how much downside potential does the current price have relative to my cost basis?

The shift from short-term support to resistance indicates a change in market participants’ mentality, but this is precisely the time to test your holding discipline. True safety isn’t about predicting that the market will never decline, but about remaining rational amid volatility. Moderate position management can help you stay firm during extreme market emotions and leave room to maneuver against larger risks.

When bearish signals appear, there’s no need to panic, but you shouldn’t ignore them either. What you should do is compare your allocation, ensure risks are within controllable limits, and then patiently wait. A long-term mindset often proves its value most during such times.