After observing the recent Bitcoin market trends, all kinds of opinions have been triggered. When the price was rising, some people complained, "The rally is unhealthy, it needs a correction"; once the correction actually happened, they changed their tune to say, "This is just the main force playing tricks"; now after a slight pullback, many timid traders have cut their losses and run. Market movements in any direction can find supporting arguments, making it look like a tug-of-war.

However, from a trading perspective, this Ethereum pullback has actually given us many opportunities. Catching this entry point was quite lucky. Although I am currently holding long positions, my outlook for the market remains very clear—rise first, then crash. I judge this rally as mostly just a "dead cat bounce." On the surface, it still seems to have the momentum to push higher, but in reality, it is transitioning from the late bull market to the early bear market. The probability of a subsequent decline is quite high, and I am quite certain of this.