Core: There should be a systematic way of thinking to judge the market!

In my opinion, the priority of factors for judging the market:

1. Macro news: positive and negative expectations, progress after landing

2. Industry progress: expected narrative, utility after landing

3. Market behavior: market actions of institutions and core OGs (trading, construction, emotions)

4. Technical reference: K-line characteristics, patterns, trends and other indicators above a week

5. On-chain analysis: various on-chain data indicators derived from chips

Remember in a small notebook: Don’t over-study a reference factor, such as on-chain indicators. In my opinion, the priority is the lowest, and even lags behind the K-line. Only when 1234 changes will the results be transmitted on the chain. In most cases, it is meaningless to study it in depth, and it may even make you fall into a "short-term misunderstanding".

The market cycle follows its own logic. It is good enough for us to try to be parallel. If we want to lead the market through a certain factor, we will naturally be taught a lesson by the market.