1. The first phase of the Bull Market has ended, and after the adjustment, it is about to enter the second phase.

2. Currently, the off-site funds have not yet entered on a large scale, and are still in the self-hyping stage of the on-site crowd. The rise of many coins is also driven by on-site leverage, so it is necessary to clear the leverage in the short term.
3. The adjustment time will not be long, and the second phase will start before Christmas.
4. The second stage is led by the SOL or ETH series, which is my judgment after experiencing several chains. SOL is simple, with a low threshold and a mass base, while ETH has a demand for supplementary growth.
5. The second phase of deleveraging (inserting the needle) will be even more fierce than the first phase, but the overall direction remains upward, so it is enough to allocate spot positions on dips (such as now). Frequent leverage in a Bull Market will only accelerate your demise, don't treat the exchange like a fool.
6. I did not choose to 'escape the top' in the first stage because I knew it was just the beginning. Many times, once you leave, it's hard to come back, or come back at a higher cost. I believe that the increase in the second stage will shock those who escaped the top in the first round, making them regretful. This trust comes from Wall Street/BlackRock/Trump/ETF, and that man.
7. Miners are the group closest to Bitcoin and have their own set of cognitive systems. The supply and demand relationship and price of mining machines can often truly reflect the stage we are currently in. In previous bull market peaks, not to mention the price of $BTC, even mining machines have to increase several times. So if someone tells me to sell at the top now, I can only say that you are a fool who has never seen the world. #市场回调，抄底还是观望？