A typical bull market roadmap is usually like this:

Step 1: The market is extremely pessimistic, shorts are rampant, but no new lows are set

Step 2: Institutional funds enter the market, and the market rebounds

Step 3: The market correction is confirmed

Step 4: Mainstream currencies rise in general

Step 5: Market sentiment improves, and a comprehensive rise begins

Step 6: The wealth creation effect begins, investment sentiment is optimistic, and a comprehensive rise continues

Step 7: The market is extremely optimistic, and valuations far exceed reasonable valuations

Step 8: Institutional funds withdraw, and the market fluctuates at a high level

Step 9: Everyone believes that the bull market is coming, the market will rise forever, and the bull market ends at this time