Chapter 1: The Market's Nature is a Cycle of Human Nature

"Speculation is as old as the mountains; Wall Street has no new tricks."

1. Cycles are Human Nature: The market is composed of a repeating cycle of “oscillation -> main rise/main fall -> high/low oscillation -> breakout/failure.” Its core is the timeless human nature (greed and fear).

2. Emotional Cycles (Spring, Summer, Autumn, Winter Model):
* Spring (Initiation): The market warms up, flowers bloom, resonating with Bitcoin, with leading coins beginning to emerge.

* Summer (Main Rise): Emotions ferment to a climax, profit effects are at their best, leading coins are clear, and the upward movement is smooth.

* Autumn (Retreat): The trend becomes fish tailing, latecomer gains are chaotic, trading difficulty increases sharply, and the loss effect begins.

* Winter (Freezing Point): The market cools down, funds rest, most patterns become invalid, and it’s time to learn with an empty position.