Having traded for so long, I have seen too many people suffer losses from the same root: it is never a single misstep, but an unwillingness to cut losses and a determination to stubbornly hold on.

Many beginners have a misconception: they believe that cutting losses means admitting failure, and selling at a loss truly signifies an actual loss. They would rather be trapped, becoming more and more deeply ensnared, than leave the market in a timely manner.

But the harsh reality of the capital market is: small losses are risk control, while stubbornly holding on is a bottomless abyss.

A small loss is simply the cost of a single transaction; it is controllable and acceptable. As long as there is still capital, there will always be opportunities. However, once you choose to hold on stubbornly, a complacent mindset completely devours rationality, turning small losses into large ones, and shallow traps into deep ones.

Everyone who can earn profits steadily understands one principle: trading earns based on probability, not on absolute correctness every single time.

Admitting mistakes calmly, cutting losses in a timely manner to preserve capital, and waiting for the next certain opportunity is crucial. Not cutting losses, not admitting defeat, and holding on until the end will ultimately lead to severe lessons from the market.

Learning to cut losses is the first step toward maturity in trading. Understanding how to let go of single errors can preserve capital, allowing for long-term compounding.

Returning to the market, Bitcoin's price has now fallen below the 64,000 mark. As the month-end approaches, a short-term pullback is a normal retracement rhythm. In fact, this is a good thing; only when there is a pullback will bulls dare to enter the market. Otherwise, if there is always a breakout upward, they would be too afraid to buy in. Therefore, this pullback is an excellent opportunity for bulls to enter.

It is recommended to look for bullish positions in batches in the 63,800-63,500 range. The short-term target continues to hold bullish expectations for the 65,200 mark, while long-term bullish targets can look above 70,000.

Follow the public account, "What Can Ease Worries, Only Jiang Wei." An analysis blogger with high emotional value, sharing trading education for free, bringing stability and clear guidance in the restless trading market, traversing three cycles of bull and bear markets and years of trading experience, skilled in naked charts, trends, Dow theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, culminating in unique personal insights.

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