#美国政府停运 Many people think that a bear market is just a continuous decline to the bottom. That's wrong.

A real bear market is more like getting lost in the mountains — you go down for a while, suddenly see a flat area ahead, and even manage to climb a few steps up, thinking "Wow, finally at the foot of the mountain," only to turn a corner and find more downhill. This back-and-forth can drive people crazy.
Why does this happen? Because the market never follows the textbook. Every time it dips to a certain level, someone always thinks "It's cheap enough" and rushes in to buy the dip, pushing the price up temporarily. But if the overall trend hasn't changed, these people are quickly trapped, and the price continues downward. Rinse and repeat.
So, what should you do? Here are some painful lessons:
**Don’t get itchy to catch falling knives.** The "bottom" you see might have three more basement levels below. The bottom is never a single point; it’s a zone that takes time to form.
**Rebound ≠ Reversal.** A 20% or 30% rise in a bear market is normal, but most of the time, it’s just an opportunity to "get off" rather than "get on." Don’t buy just because you see some green.
**Wait for the right side to act.** What does right side mean? It’s waiting for the market to form a pattern — for example, several weeks without new lows, increasing trading volume, or breaking through a long-held trendline. Although you might not buy at the absolute bottom, at least you won’t get trapped immediately.
**Control your emotions.** Don’t get overly excited during a rally, and don’t panic during a dip. This is the daily rhythm of a bear market. Accept it to survive.
Ultimately, this repeated torment in a bear market is actually the market "re-pricing" — old bubbles are being squeezed out, and new consensus hasn’t formed yet. This painful period is part of the process. Understand this logic, and you won’t be fooled by false breaks every time. When the real bull market arrives, those with ammunition in their accounts will be the winners.