Is the bull market really over? Let me share my honest thoughts.

Most people are still expecting the next surge, but I see a different story. Looking at the charts, the signs of major players distributing are very obvious. Since the big players are choosing to exit, this cycle is basically coming to an end. Of course, the end of a bull market doesn't mean there won't be any rebounds—this needs to be clarified to prevent misunderstandings.

Are retail investors hoping for the "next wave" to come? I think it will.

But it’s likely just a decent rebound within a bear market. When the rebound actually happens, many will shout "the bull is back," but in reality? That might be the last chance to escape.

From a technical perspective, the current trend almost perfectly aligns with Wyckoff distribution theory. The big bearish candlestick on October 10 and the plunge on November 4—what else could they be if not the main players offloading? That’s pretty obvious. Unfortunately, many are either trapped and unwilling to sell or believe they haven't made enough profit and stubbornly go against the trend.

Even if a bear market has truly begun, I don’t think the market is out of opportunities.

After enough decline, there will naturally be a rebound; after the rebound, the decline may continue. The key is to recognize the cycle and not mistake a rebound for a reversal.