Bull Market Characteristics:

• First 8 months: Slow fluctuations, consolidation adjustments, capital gradually positions.

• Last 2 months: Rapid surge, market sentiment explodes, forming the main upward wave.

• Final 2 months: Crazy topping, sentiment reaches a peak, but risks also increase accordingly.

Current Judgment:

• The bull market started in October 2023, and is currently in a mid-stage consolidation period, with the real explosion yet to come.

• According to historical rhythm, the explosive period is expected between February and May 2024, with the main upward wave completing most of the gains in just a few months.

• The entire bull market may end around July 2025, after which a bear market will follow.