Trader Eugene: Still unable to confirm the bottom; preserving capital in a bear market is what truly matters

ChainCatcher message, trader Eugene Ng Ah Sio posted: "Today, my team and I discussed the issue of buying at the bottom in a high time frame (HTF) ------ I believe it is impossible to do this with complete confidence.

When I say that a price like 75k is a zone worth paying attention to, it is almost always in reference to a bounce in the low time frame (LTF). I would never say under any circumstances that this is a make-or-break price, or that I would fully load up at this level without setting any stop-loss points.

You can never determine in real-time what constitutes a bottom; you will only know in hindsight. Therefore, to preserve capital, one should monitor when key ranges are reclaimed to moderately increase risk, rather than holding the line at prices like 80k, 60k, 40k, or 20k.

Of course, you might miss the first wave of the rally, but if that truly is the bottom, you won't mind too much because there is an entire bull market ahead of you. And you have preserved your principal ------ that is what truly matters in a bear market."