This week's BTC movement has sparked quite a bit of discussion—it precisely retreated to the profit and loss line marked last week, neither causing early entrants to incur losses nor allowing onlookers to miss out. This kind of "precise positioning" seems coincidental, but in fact reflects the underlying logic of the crypto market in action.

Reviewing last week's key annotations: the critical resistance level for BTC's current rebound was within a specific range, with the breakeven point exactly at the midpoint of this range. It also emphasizes that as long as the support level below is not broken, there's no need for blind stop-loss. From the results, BTC indeed behaved as if following a set route, experiencing volatility and then stabilizing within the expected range. This is not luck, but a comprehensive judgment based on market sentiment, volume data, and macro indicators.

But here’s the question—why are many retail investors still unable to make money in the crypto market? The key lies in two common misconceptions:

The first misconception is treating the "breakeven point" as an "absolute safety line." In fact, the breakeven point is just a reference marker; it can help identify risk zones but is not the sole basis for entry or exit. True safety depends on your understanding of support levels and the decisiveness of your stop-loss execution.

The second misconception is treating "stop-loss" as a mere formality. Setting a stop-loss is not about giving up but about using limited losses to protect the opportunity for a turnaround later. Many make the mistake of either not setting a stop-loss at all or setting it too loosely, resulting in small losses turning into larger ones.

Regarding the judgment of the breakeven point, relying on a single indicator is insufficient. It requires a comprehensive analysis based on three dimensions: first, observe the price range corresponding to recent volume peaks, which reflects actual market participation; second, compare the strength of historical support and resistance levels; third, incorporate macro expectations. Only by constructing such a framework can one truly respond to market fluctuations.