The article is quite good, although it is old, but it shows a lot of psychology of investors and traders

, Well now I have to tell you this.

Those of you who don't know need to adjust your mentality.

The cyclical cycles of a single market such as BTC/USDT or the entire cycle of Altcoin/USDT go through 4 stages, which all correspond to trading psychology (Including fear, excitement , desperate + disinterested).

- First: During the start-up phase, the currency pair or market will always move sideways in a cumulative form, when most prices do not increase or decrease much and correspondingly, the trader's psychology is less interested in the prices. This is because the volume is very boring, but most of the big guys who are the main price controllers of the market are holding on to a little bit at a time, typically with unusual price increases or decreases then falling back to the same position as before. yesterday.

- Second stage of overcoming obstacles:. The obstacles here are the most recent previous peaks in a recent long-term downtrend. At this time, the market begins to attract the attention of a small number of experienced traders and institutional investors begin to participate in the market. This stage will be accompanied by fear among small investors because before At that time, they were always swinging at the top, although a wave with a peak higher than the previous peak appeared, signaling that an uptrend was likely to appear, but... now they only like to find selling points, not buying points. Evidence of this stage is often Elliot's waves 1 and 2, because most wave 2s often retrace very deeply from 62% to 80% of wave 1 at the beginning of the uptrend period.