The reason why the top of the bull market is accompanied by high emotions is that most people have entered the market and made profits. A long position that has been fully invested is a potential supply for the market;

In this case, the short-term long position is a bullish factor, but at the top of the bull market, there are only a few such people left;

The same is true for the bottom of the bear market;

Therefore, to judge whether a bull market has reached its peak, we must first see whether everyone thinks it is a bull market, because it is likely that there is an equivalent position behind it;

If when the price rises to a high level, half of the people are still skeptical and wait and see with short positions, then the bull market may not have reached its peak;

So if you are a long position, please cherish those people around you who are short or short, they are the key force;

If you are a short position, you should also cherish those who continue to increase their positions and buy long positions, they are the key to the continuation of the bear market.