Four stages of a bull market:

In the early stages of a bull market, the market slowly rises, making most people unaware that it is actually fluctuating upward.

In the early stages of a bear market, the market slowly falls, making most people mistakenly believe that there are new highs, but in fact, chips are being distributed.

In the bottom stage, the market continues to create panic and hit lower points.

In the top stage, the market continues to release good news and hit higher points.