The essence of a bull market is that those who have left the market or want to enter the market, the crypto marginal individuals, return to the market, thus increasing liquidity.

Narratives, candlestick charts, volume-price analysis, and market manipulation are all forms of broad 'narratives' created to explain market price changes.

The true core still lies in value investment theory:

1. Intrinsic value: narrative/communication power/whale intent

2. Reasonable price: high margin of safety (sufficiently early/sufficiently low)

3. Long-term holding: don't sell just because it has increased, an increase indicates your investment decision is correct, so why rush to cut this correctness?