Let's review the common trading rhythm of retail investors in this market cycle:

• Not believing at the bottom;

• Starting to doubt as prices rise;

• Finally believing, but cutting losses during a pullback;

• Then chasing highs, only to get trapped again;

• In the end, even adding more at high positions, repeatedly getting hurt.

After a whole process, no money is made, instead, it gets 'ground' away by the market.

This is the tragedy of many short-term traders: trading with emotions, only to be harvested by those emotions.

In contrast, those who do nothing, the 'pretending-to-be-dead party', may actually live better.

Many people like to catch the bottom during a decline, which is not wrong, but the key is that you have no system, no rhythm.

For example, we reduce positions at high points and buy back in batches at low points, only then can we capture segment profits. Yet most people do the opposite, buying high and selling low, making it harder with each trade.

Ethereum is an example: when it drops to $2200, many will cut losses, even though they may have just increased their positions at high points, getting more and more trapped.

Why does this happen? The fundamental reason is that you have no logical system of your own. Charts, K-lines, are meant to be 'shown to you', not to be blindly followed.

The reason we were able to reduce positions around $2800 is that we knew this location would provoke emotional reactions.

Although trading with the trend seems simple, it is very counterintuitive when put into practice.

Even if I tell you where the bottom is, when it truly drops to that point, many people still dare not buy, and might even sell back. Because they do not understand the logic behind it.

Currently, there are still people adding positions in the market, indicating that emotions have not yet completely died down.

Therefore, our judgment is: there may still be another wave of 'educational market'.

The most ideal scenario in the current market is: Bitcoin drops to around $97,000, a large bearish candle breaks through key support, accompanied by panic statements like 'the bull market is over' and 'the double top is here', leading to a complete market emotional collapse.

If ETH also breaks down at this time, market confidence will suffer a heavy blow.

It should be noted that altcoins have already dropped by 70-80%, and if they break down further, many will completely shift from 'adding positions' to 'panic selling'.

And the real opportunity often arises right after such extreme emotional collapse—then is the moment when gold is everywhere.