Here’s the translation: --- A quick share of my trading logic behind this short-term short position. My mid-to-long-term view has never changed—I’m still firmly bullish on Bitcoin. But long-term direction and short-term trading are two completely different sets of logic. Based on the data at the time, I believed there was a possibility of a temporary market pullback, so I decided to take this short-term short position. From the moment I opened the position, I defined it as a short-term trade, not a trend trade. As for how deep the pullback would go, no one can predict that with precision, and I wouldn’t try to guess every price point. My job is simply to adjust my judgment continuously based on the information the market provides. During the holding period, I noticed the market trend started to deviate from my expectations. The downward momentum didn’t continue to strengthen; instead, some warning signals began to appear. So, I chose to close the position early and lock in the profit. Some people might wonder why I’d take on a position worth tens of millions of dollars but only realize a profit of a few million dollars. In my view, it’s not about risking tens of millions to chase a few million. When the market tells me that the trading logic is starting to change, I’ll adjust my position without hesitation, rather than gambling on the last leg of the move to maximize profit. If I believed the logic for the downtrend was still valid, I would naturally continue to hold. But when the risk-reward ratio is no longer favorable, exiting promptly is part of trading discipline. The goal of trading is never to capture the very last candlestick but to make the optimal decisions between probability and risk. Protecting the profits already in hand is always more important than letting gains turn back into losses. So, this was just a short-term strategy and doesn’t mean my judgment on the mid-to-long-term trend has changed. My view remains the same: mid-to-long-term, I’m still firmly bullish on Bitcoin. ---