Recently, while revisiting K線 chart patterns, I was reminded of an ancient saying—“once momentum is gathered, then it declines; after the third time, it is exhausted.” This logic fits especially well when applied to an M top and an m bottom.

Let’s first look at the M top scenario. On the first push to a higher level, the bulls’ momentum is at its strongest; the market is filled with bullish voices, and capital rushes in. But by the second push to a higher level, everything changes. Retail investors who were trapped earlier begin to get out and escape their positions, and early profit-taking orders also move to lock in gains and leave the market—so the selling pressure suddenly rises sharply. By this point, the bulls are no longer as fierce. After forming a second high point, they don’t have the energy to keep pushing upward, and the market trend turns downward accordingly.

The logic behind the m bottom works in the opposite direction. During the first downswing, the bearish momentum is the strongest, but when the market tests the bottom a second time, the bulls’ ability to absorb selling clearly strengthens. Both sides repeatedly probe at the bottom; the market’s chips gradually shift toward the bulls, and in the end the rebound begins.

Behind this, it’s really a tug-of-war between market sentiment and capital. During the first attack or decline, participants’ thoughts are the most consistent and the momentum is the purest. But as the price changes, holders of chips with different cost bases begin to diverge—some want to flee, some want to take the other side, and some want to trade in the opposite direction. When this divergence accumulates to a certain extent, the momentum of the original trend becomes exhausted.

For us, recognizing classic patterns like an m bottom can indeed help us judge trend turning points. But my advice is not to rely only on the pattern itself; it’s best to combine it with multiple indicators—such as volume and moving averages—for verification. After all, technical chart patterns are not absolute, and the market is always full of variables. What’s truly important is understanding the game logic behind these patterns—knowing why this kind of formation occurs, when the chips start to split, and when the bullish and bearish forces begin to shift. Only after you’ve thought through these matters clearly can you more precisely grasp the timing for buying and selling in real trading.