- Stage One: People are skeptical about the bull market and do not believe that prices will rise at all.
- Stage Two: Even when they see changes in prices, they still feel that there will be a correction, filled with worries about the pullback situation.
- Stage Three: Prices continue to rise, and the increase exceeds expectations, making it hard to believe.
- Stage Four: During the continuous rise, people begin to recognize the bull market and slowly accept the situation of rising prices.
- Stage Five: Once prices stop rising temporarily, people will doubt whether the bull market can continue.
- Stage Six: Finally, people subconsciously believe that prices should always rise, completely immersed in the mindset of a bull market.