飞凡|3月 14, 2026 11:19
Many traders don’t really understand the logic behind bull and bear markets.
The principle is actually very simple: as long as the bull or bear structure hasn’t changed:
In a bull market, every pullback is a chance to get in. In a bear market, every rebound is an opportunity to reduce your position. Two completely opposite logics.
A lot of retail investors, even those who’ve been through multiple cycles, still lose money for two reasons:
In a bull market, they’re too scared to buy the dip during pullbacks. In a bear market, they keep buying aggressively without knowing when to reduce their positions.
You might be able to judge when resistance levels are broken in a bull market, but that doesn’t mean the same logic applies in a bear market.
When BTC broke through the 80k resistance level and kept surging, it was because there was a solid base below and almost no resistance above.
In a bear market, the top is full of resistance, and the support levels below are constantly being tested. Even if BTC repeatedly tests 73k, it’s hard to say it can maintain an upward trend.
And of course, there’s one of the biggest practical traps: thinking that BTC or some altcoin is super cheap right now and it’s time to buy the dip.
In a bull market, low-priced tokens can be seen as undervalued opportunities. When you buy in and the price rises, the valuation gap closes quickly. But in a bear market, the low price is often due to deteriorating fundamentals or a lack of liquidity. Many altcoins can’t rise for similar reasons.
So, it’s not about being undervalued—it’s about becoming even more undervalued.
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