This market is not pricing facts, but pricing fantasies.

The market is ultimately dominated by confidence and emotions:

Recently, I don't know if everyone has seen through this truth:

The crypto market has never been priced based on fundamentals, nor on data; fundamentals and data are merely the results of narrative changes, while emotions and confidence are the real leaders!

Because the market is fundamentally not rational and linear, after the significant drop, the lack of liquidity is just a surface phenomenon, but the real issue is the blow to confidence. When confidence collapses, even good news will be seen as bad news, and any small rise is seen as an opportunity to sell; however, if confidence returns, every bullish candle may be interpreted as the start of a new cycle.

So when you see a rise, there seems to be good news everywhere, but when there's a drop, bad news is everywhere!

If you don't believe me, search it today; you'll see quite a bit of good news.

So do you think the market is pricing facts? Wrong! In fact, the market has always been pricing fantasies: most of the time, what can be different in the market mainly depends on what is different in the hearts of the market participants;

Prices are just the average of everyone's fantasies: in a market dominated by emotions, the value of all information depends on what the market currently wants to believe.

So dear ones, what do you believe in now?

Is this wave a rebound to deceive, or a reversal after the wash is completed?