Mid to late stage of bear market: 'Realized profit&loss' ratio officially falls below 1 Time flies like an arrow, and the leisurely annual leave is over. Here, I wish everyone a smooth start to work and a great fortune in the Year of the Horse Continuing from the following quote, at the time, I approached 'RULL' from the perspective of relative unrealized gains and losses, I shared with you a method of using bottom fishing. Today, I plan to approach it from the perspective of 'realized gains and losses' again, Report another noteworthy sign to everyone ： The indicator in the attached figure is the "Realized Profit/Realized Loss" ratio, For the convenience of observation, I smoothed the indicator itself with SMA (90). If you still don't know the concept of Realized Profit, I have written a detailed tutorial before, Friends interested in conducting in-depth research can refer to the following posts ： Introduction to the concept of Realized Profit https://(((((((x.com)))))))/market_beggar/status/1866039986598068642 Realized Profit Top Escaping Application Case I (January 2025) https://(((((((x.com)))))))/market_beggar/status/1882645089786450368 Realized Profit Top Escaping Application Case II (September 2025) https://(((((((x.com)))))))/market_beggar/status/1962328420400185402 Returning to today's topic, the so-called Realized Proft&Loss ratio, Simply put, it is measuring the strength and weakness of the market's profit and loss makers. Because Realized Profit and Realized Loss are used to calculate the daily profit and loss settlement amount, Therefore, if the ratio between the two is less than 1, it indicates trading in the market, It is already dominated by the 'losing side', and more and more participants are beginning to surrender, This usually indicates that the market has entered the middle and late stages of a bear market As shown in the attached figure: ➡️ In 2011, the bear bottom had a minimum indicator value of approximately 0.208 ➡️ In 2015, the bear bottom had a minimum indicator value of approximately 0.214 ➡️ In 2019, the bear bottom had a minimum indicator value of approximately 0.199 ➡️ 2023 bear bottom, with the lowest indicator value of approximately 0.185 And now, with BTC plummeting to 60K this time, The lowest value of the indicator has reached about 0.45. If we insist on looking at it from the perspective of Kezhou, At present, there may still be a short distance to go from the true bear bottom. The optimistic thing is that this last short stretch of road is actually very much worth looking forward to, As mentioned in many of my recent bottom analysis posts (see the end of this article for details), I think BTC is currently just short of the 'last tremor', And this' last tremor 'may be able to trigger all the bottom signals smoothly Above, currently BTC has been oscillating since its sudden decline, with less than a month left, The days ahead are long, and it is estimated that the grinding sideways trend will continue for some time. Patience is the best strategy // Related reading resources The emergence of extremely large quantities: the starting point of a new round of oscillating games https://(((((((x.com)))))))/market_beggar/status/2021037913686016212 For the first time since 2022: BTC returns to the blue line support zone once again https://(((((((x.com)))))))/market_beggar/status/2021399682606661737 PSIP Bottom Signal "Extra Edition": Another Perspective on Evaluating the Bottom https://(((((((x.com)))))))/market_beggar/status/2024313705262121308 Golden Pit Tracking Series (2): Latest Data from the "Four Major Deep Bear Bottom Hunting Models" https://(((((((x.com)))))))/market_beggar/status/2024664344257245584