This so-called bull market has wiped out countless people. Retail investors, often novice traders, died in the first wave, shorting from 60,000 to 87,000, then cutting their losses and going long. Skilled bulls and experienced traders died in the second wave, starting at 63,000, adding to their positions with floating profits, shorting on pullbacks, and raising their average cost all the way up, only exiting after a breakout, ending up with no profit and even losses. Those who waited to see what would happen started buying the dip at 75,000, buying all the way to 70,000, but couldn't hold on at 67,000 and started cutting their losses. Stop calling it a bull or bear market. Trade in waves, uptrend, downtrend, and consolidation range—these are the only three states. Don't assume it's a bull market or expect it to reach 120,000 and then hold long positions without taking profits.