BTC ETH Let's analyze and review some key data points previously mentioned regarding the decisive battle between bulls and bears: Figure 1: Contract Data: We previously discussed the significance of the bull-bear ratio of 3. When the bull-bear ratio reaches this high, it either confirms a bottom in the consolidation phase or marks the beginning of a downtrend. Generally, during sideways consolidation after a trend has just ended, whenever this data reaches a particularly high or low threshold, the probability of consolidation starting is relatively high. After a period of sideways consolidation, the probability of a trend emerging is relatively high. The longer the consolidation lasts, the lower the probability of a trending market. Large; After a trend emerges, the signal for a new round of fluctuation can be simply observed using the long/short ratio. For example, in this case: observe when, as the price rebounded, the long/short ratio first gradually decreased from 3 to around 1, then the price began to fall, and the long/short ratio began to rise sharply (to around 2). At this point, a new round of fluctuation began; Figure 2: Spot Leverage: The large-scale entry of incremental spot leveraged long positions around 75 resulted in stop-loss orders being triggered and exiting the market around 73, 68, and 63 points respectively; Figure 3: Contract The losses for long positions have progressed from an initial phase of widespread losses to a phase of significant and widespread losses. Therefore, the biggest question now is whether we are in a bull or bear market. As mentioned before, if it's a bull market correction, then a rebound around 75 is necessary because only a bull market can absorb the influx of bullish funds. Otherwise, it would have been the perfect time to hunt down long positions, as both futures and spot leveraged long positions are currently crowded. Furthermore, what surprised me most is that the leverage of long positions in the market is far more severe than I anticipated; otherwise, the US stock market would have already shown signs of bottoming out. The signals are stable, but Bitcoin continues to hit new lows, even approaching a major low of just 4,000 points over the weekend. Finally: In recent months, I've seen too many bloggers constantly touting a bull market rebound above 80,000. After it fell below 80,000, they even claimed it was the last chance to buy in. At the time, I thought few people would believe it, but now it seems too many people are afraid of missing out on buying the dip, preferring to be trapped rather than miss out. For retail investors, especially contract traders, what they lack is never opportunity, but rather precious capital, because you only have a few chances to try and fail.