Traders need to understand a phenomenon: during the early stages of each bull market, almost no one is optimistic. Most people are either watching from the sidelines or simply didn't expect the market to rise.

Then, when the market starts to show some warmth, most people are still hesitant. Stop-loss orders are dense, and as prices rebound, some start to dump. You'll see all kinds of opinions—"This is just a rebound, not a reversal," "Big short-sellers are shorting aggressively." At this stage, confidence is still a scarce commodity.

After the market has risen for three to five months? Suddenly, public opinion shifts. From "I don't understand" to "It must still go up." The candlesticks turn greener day by day, and some even start to leverage and go all-in. At this point, you'll notice even friends' circles discussing certain coins, and even neighbors' grandmothers asking how to buy coins.

This critical point is often a warning sign. The market's biggest fear isn't a decline but everyone talking about it and rushing in. When consensus becomes too strong, and madness turns into "common sense," the shadow of a peak has already appeared.

Real-world examples are everywhere: before every major top, the number of new users on exchanges hits a record high; before every major bottom, trading volume is the bleakest, and the market is the coldest. In simple terms, retail investors' action sequences are always opposite to the true profit windows.

So, the trading logic is clear. When you see heavy selling and panic among investors—that's the opportunity to accumulate. Conversely, when everyone is discussing gains on the street and FOMO is visibly surging, it's time to consider reducing your position. This isn't a psychological game; it's an inevitable result of changes in the structure of market participants.

The key is to dare to think in the opposite direction of the majority. The bottom of a bear market feels lonely but is actually the safest. The top of a bull market looks most prosperous, but that's often when the risk is greatest.