The market situation has been discussed for a whole week. Starting from the initial 3800 points, it reached 3950 points after a wave of rise, and now it has pulled back to 3750 points. I still stick to my point of view. Only when the daily line tests around 3500 points again, can we really think that this adjustment is over. And to achieve this, I am afraid that those who are keen on chasing ETFs with ten times leverage will need to suffer a heavy blow.

In my opinion, the price of big cake is roughly around 65,000 points, while the second cake fluctuates around 3500 points. Regarding the trend of the entire bull market, I divide it into five stages. First, big cake led the market and ended the long bear market, which took a year; next, the second cake began to exert its strength and led the altcoins to rise together, which lasted for half a year; then, big cake rose again and started a new bull market cycle, which lasted another half a year; then, the second cake continued to lead, and the altcoin market also entered the bull market, which lasted another half a year; finally, it will usher in a one-year bear market adjustment. At present, we are in the second stage, and there is still a long way to go from the peak of the market.