Messianh

BTc Still at 71.3k. Expecting a strong bounce (and a range) rather here, before hitting 63k, which is  also what we want for spot buy 1
Alright so, after losing 81k, talked about bearish continuation and taking out levels 75.5k and 74.5k in succession (with a pause in between).
Once they were taken out, the plan since was to expect a high timeframe low somewhere in the purple, specifically closer to the low 60k's, and a bounce before hitting that area (new concretely drew the daily POI).

Reason for this bounce is through factoring in time (and local confirmation), which, if we would sink straight to 63k, that bottom would be in Q1 which is not ideal and not in alignment with the overall power of the POI below.
Hence, if my idea of a bottom in that area is right, it is indeed more logical to see a range form around here first, at worst with range low ending up in the upper 60k's before the actual bottom.
We are at a daily POI and are still in the first week of February only, bears are also getting really confident again while we just had a major move down already.
So for this range to form, we would need a bounce now or very shortly, and later a range low sweep or $ETH mmd (where $ETH sweeps instead).
Once this range is showing early confirmation, I become more confident in longs again because I am indeed careful in longs as you know, as mentioned before.
How I factor in my spot buys recently
In expectation of this bounce, we estimated a first large spot buy in this "bear market".
Spot buys right before a large bounce, even if price ends up lower later, are ideal because it helps to not fomo later at possibly the worst time, also beating mindless (or even risk adjusted) DCA-ing both materially and psychologically.
Hence, this bounce would be ideal just from a spot holding perspective too.
That is why I placed them in this region.
Regarding leverage, a range forming also prepares us to trade it again which is a great opportunity for easy trades.
Planning far ahead though however. For now, trading frequency is lower, and focus is put on placing spot buys correctly, as this type of market should be played in current conditions (meaning no confirmation of a low yet).
Hope this helps you further understand how I navigate this low both on leverage and spot, and how I intend to play it optimally (the action, the most important part).