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Reading the HEARTBEAT of the Market (Wyckoff, Smart Money Concepts, and ICT)
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1x
00:00
October 10, 2025, Bitcoin sits at an all-time high of $126,000.
2025年10月10日，比特幣達到126,000美元的歷史新高。
00:08
Social media is exploding.
社群媒體熱議不斷。
00:10
Twitter thread screaming, October is here, TikTok guru saying, this is it, we're going to $150,000.
推特上到處都在喊「十月到了」，TikTok達人說「就是現在，我們要漲到150,000美元」。
00:19
Retail traders are piling in.
散戶紛紛湧入。
00:21
FOMO is at maximum.
錯失恐懼症達到極致。
00:23
Then, the black swan hits.
然後，黑天鵝事件來襲。
00:25
Overnight, Bitcoin plunges to $102,000.
一夜之間，比特幣暴跌至102,000美元。
00:30
Over $19 billion in long positions liquidated in a single cascade.
超過190億美元的多頭部位在一波清算潮中被平倉。
00:36
1.64 million traders wiped out in hours.
164萬名交易者在數小時內爆倉。
00:41
So here's the question.
那麼問題來了。
00:42
What did retail traders miss?
散戶錯過了什麼？
00:44
And more importantly, what did professionals see three days before the crash?
更重要的是，專業人士在崩盤前三天看到了什麼？
00:49
The answer wasn't in the news.
答案不在新聞裡。
00:51
It wasn't in some secret indicator.
不在某個秘密指標裡。
00:53
It wasn't in a paid discord group.
不在付費的Discord群組裡。
00:56
It was printed on every single chart in plain sight.
它清清楚楚地顯示在每一張圖表上。
01:00
2 things.
有兩點。
01:01
Price structure and volume footprints.
價格結構和成交量足跡。
01:04
Most traders look at charts and see random noise.
大多數交易者看著圖表，卻只看到隨機的雜訊。
01:08
Candles go up.
K線上漲。
01:09
Candles go down.
燭台下跌。
01:10
Social media says one thing.
社群媒體說一套。
01:12
The chart does another.
圖表卻是另一套。
01:14
And somehow, the account just keeps bleeding.
但不知怎地，帳戶卻不斷虧損。
01:17
If that's familiar, you're not alone.
如果你對此感到熟悉，你並不孤單。
01:19
Because here's what nobody explains clearly enough.
因為這是沒有人解釋得夠清楚的地方。
01:23
Price is just the advertisement.
價格只是廣告。
01:26
Volume is the transaction.
成交量才是交易。
01:28
Price tells you where the market moved.
價格告訴你市場往哪裡移動。
01:31
Volume tells you how much money actually moved there.
成交量告訴你實際有多少資金移動到那裡。
01:35
If you only watch price, it's like judging a restaurant by its sign outside.
如果你只看價格，就像只憑餐廳的招牌來判斷它。
01:40
And never checking if there are any customers inside.
而從不查看裡面是否有顧客。
01:43
In this video, I'm going to show you how professional traders read the market on three layers.
在這部影片中，我將向你展示專業交易者如何從三個層面解讀市場。
01:48
Layer one.
第一層。
01:50
The market cycle.
市場週期。
01:51
Where are we in the story?
我們處於故事的哪個階段？
01:53
Layer two.
第二層。
01:54
Smart money tactics.
聰明錢策略。
01:56
What play are institutions running?
機構正在執行什麼操作？
01:59
Layer three.
第三層。
02:00
Volume confirmation.
量能確認。
02:02
Is it real?
這是真的嗎？
02:03
Or is it manipulation?
還是操縱？
02:05
These aren't three separate strategies.
這不是三種獨立的策略。
02:07
They're three lenses looking at the same thing.
它們是從三個不同角度看同一件事。
02:10
By the end of this video, you won't see random candles anymore.
影片結束時，你將不再看到隨機的K線。
02:14
You'll see the heartbeat of the market.
你會看到市場的脈動。
02:15
Where institutional money is flowing.
機構資金流向何處。
02:18
Where traps are being set.
陷阱正在何處佈局。
02:20
And where real opportunities appear.
以及真正的機會在哪裡出現。
02:23
This is not financial advice.
這不是財務建議。
02:25
This is education in how to read the game before you play it.
這是關於如何在入場前讀懂這場遊戲的教育。
02:29
Let's begin.
我們開始吧。
02:30
Most traders learn one method and swear it's the only way.
大多數交易者只學一種方法，並堅信那是唯一之道。
02:34
Some worship Wyckoff.
有些人崇拜威科夫。
02:36
The only true way to read accumulation.
閱讀吸籌的唯一真理。
02:39
Others follow smart money concepts.
其他人則追隨智能資金概念。
02:42
Everything else is outdated.
其他一切都過時了。
02:43
And ICT disciples say only liquidity matters.
而ICT的追隨者則說只有流動性才重要。
02:48
Then they argue online about which is right.
然後他們在網上爭論哪種方法才是對的。
02:52
Here's what they're all missing.
這就是他們都錯失的重點。
02:54
They're describing the same market mechanics from different angles.
他們只是從不同角度描述相同的市場機制。
02:58
Think of it like studying anatomy.
想像一下，這就像是研究解剖學。
03:00
One doctor looks at the skeleton, the structure, the frame.
一位醫生看骨骼、結構、骨架。
03:04
Another doctor looks at the muscles, the movement, the action.
另一位醫生看肌肉、運動、動作。
03:08
Another looks at blood flow, the fuel, the energy.
還有一位看血流、燃料、能量。
03:11
They're all studying the same body.
他們都在研究同一個身體。
03:14
They're just describing different systems.
他們只是在描述不同的系統。
03:16
The same is true in trading.
交易也是如此。
03:19
Wyckoff taught you cycle phases, the skeleton, the structure.
懷科夫（Wyckoff）教你週期階段、骨骼、結構。
03:24
SMC taught you liquidity traps, the tactics, the muscle movement.
SMC 教你流動性陷阱、策略、肌肉運動。
03:29
Volume analysis taught you confirmation, the blood flow, the energy.
成交量分析教你確認、血流、能量。
03:34
They're all correct because they're describing three layers of the same underlying truth.
它們都是正確的，因為它們描述的是同一潛在真相的三個層面。
03:39
Markets don't move randomly.
市場並非隨機波動。
03:42
They move in patterns.
它們依循模式運行。
03:44
And those patterns repeat because human behavior repeats.
這些模式會重複，因為人類行為會重複。
03:48
So instead of choosing one method and rejecting the others, we're going to combine them.
因此，我們不會選擇一種方法而排斥其他方法，而是將它們結合起來。
03:54
Layer one, we read the cycle to know where we are in the story.
第一層，我們解讀週期，以了解我們處於故事的哪個階段。
03:59
Layer two, we identify the institutional play to know what's being set up.
第二層，我們識別機構操作，以了解正在佈局什麼。
04:04
Layer three, we use volume to confirm if it's real or manipulation.
第三層，我們使用成交量來確認它是真實的還是操縱。
04:09
Three layers, one truth.
三個層次，一個真相。
04:12
Let's break it down.
讓我們來分解一下。
04:13
Let's start with layer one, the market cycle.
讓我們從第一個層次，市場週期開始。
04:17
Back in the 1930s, a man named Richard Wyckoff spent decades studying how the stock market moved, and he discovered something profound.
回溯到1930年代，一位名叫理查德·威科夫（Richard Wyckoff）的人花了數十年研究股市如何運作，他發現了一些深刻的道理。
04:26
Markets don't move randomly.
市場並非隨機波動。
04:29
They move in phases, and every single phase follows the same story.
它們以階段性方式波動，每個階段都遵循相同的模式。
04:35
Four phases.
四個階段。
04:36
Let me show you.
讓我來展示給您看。
04:37
Phase one, accumulation.
第一階段：吸籌。
04:40
The market is quiet, sideways, boring.
市場平靜、橫盤、無聊。
04:45
Most retail traders ignore it because nothing's happening.
大多數散戶交易者會忽略它，因為沒有什麼事情發生。
04:49
But behind the scenes, institutions are loading up.
但在幕後，機構正在大量買入。
04:53
They're buying quietly, absorbing supply, building their position.
他們悄悄買入，吸收供應，建立倉位。
04:59
It's like watching someone pack for a trip.
這就像看著某人打包行李準備旅行。
05:01
No excitement yet, but preparation is happening.
還沒有任何刺激，但準備工作正在進行。
05:04
Phase two, markup.
第二階段：上漲。
05:07
Now the fireworks start.
現在，煙火開始綻放。
05:09
Price breaks out.
價格突破。
05:11
Retail traders flood in.
散戶交易者蜂擁而入。
05:13
FOMO kicks in.
錯失恐懼症（FOMO）開始發作。
05:15
Everyone's making money.
所有人都在賺錢。
05:17
The news cycles turn bullish.
新聞週期轉為看漲。
05:19
Bitcoin to $150,000.
比特幣漲到15萬美元。
05:23
The euphoria builds.
狂熱情緒累積。
05:25
But here's what retail doesn't see.
但這就是散戶沒看到的地方。
05:27
Institutions aren't buying here.
機構在此沒有買進。
05:30
They already bought during accumulation.
他們在累積階段就已經買了。
05:33
Now they're selling into your euphoria.
現在他們正趁著你的狂熱情緒賣出。
05:37
Phase three, distribution.
第三階段，派發。
05:40
The market goes sideways again.
市場再次橫盤整理。
05:43
But this time, it's not quiet.
但這次，它不安靜。
05:45
It's volatile.
波動劇烈。
05:46
Fake breakouts.
假突破。
05:48
Bull traps.
多頭陷阱。
05:49
Price whipsaws up and down.
價格劇烈震盪。
05:52
Retail sees another leg up coming.
散戶看到另一波上漲即將到來。
05:55
They hold.
他們抱著不放。
05:56
They add more.
他們加倉。
05:58
Meanwhile, institutions are unloading.
同時，機構正在出貨。
06:00
Silently, methodically.
悄悄地，有條不紊地。
06:03
And then, phase four, mark down.
然後，第四階段，下跌。
06:06
The crash.
崩盤。
06:08
Price plunges.
價格暴跌。
06:09
Stop losses cascade.
止損單連鎖觸發。
06:11
Liquidations explode.
清算爆炸性增加。
06:14
Retail traders are trapped underwater panicking.
散戶交易者被套牢，驚慌失措。
06:18
And institutions?
而機構呢？
06:19
They're done.
他們結束了。
06:21
They're out.
他們退出了。
06:22
Watching from the sidelines.
在場邊觀看。
06:24
And then the cycle begins again.
然後循環再次開始。
06:27
Accumulation.
累積。
06:28
Markup.
上漲。
06:29
Distribution.
分佈。
06:31
Markdown.
下跌。
06:32
Four phases.
四個階段。
06:33
Over and over.
反覆出現。
06:35
In every asset.
在每種資產中。
06:37
Every time frame.
每個時間週期。
06:38
Every market.
每個市場。
06:40
If you know where you are in the cycle, you already know what comes next.
如果你知道自己在週期的哪個位置，你已經知道接下來會發生什麼。
06:44
But there's a problem.
但有個問題。
06:46
The cycle tells you the structure.
週期告訴你結構。
06:48
It doesn't tell you the tactics.
它沒有告訴你策略。
06:50
That's where layer two comes in.
這就是第二層的用武之地。
06:53
Now let's talk about layer two.
現在我們來談談第二層。
06:55
Smart money tactics.
聰明資金的策略。
06:56
You know the cycle.
你知道這個週期的。
06:58
You know we're in distribution.
你知道我們正處於派發階段。
07:00
Great.
很好。
07:01
But how do institutions actually sell billions of dollars without crashing the price immediately?
但機構如何實際賣出數十億美元而不會立即壓垮價格？
07:07
They need liquidity.
他們需要流動性。
07:09
And they get it by setting traps.
他們透過設置陷阱來獲得流動性。
07:11
Here's what that means.
這意味著什麼。
07:12
Imagine you're a hedge fund holding 10,000 Bitcoin.
想像一下，你是一家持有 10,000 枚比特幣的避險基金。
07:16
If you just market sell it all at once, the price would collapse before you finish selling.
如果你一次性全部市價賣出，在你賣完之前價格就會崩盤。
07:21
You'd lose millions.
你會損失數百萬。
07:22
So instead, you do this.
所以，你改為這樣做。
07:24
Step one.
第一步。
07:25
You push price up slightly.
你稍微推升價格。
07:28
Just enough to trigger stop losses above a key level.
剛好足以觸發關鍵價位上方的止損單。
07:31
Just enough to attract retail buyers thinking it's breaking out.
剛好足以吸引散戶買家，讓他們以為正在突破。
07:35
Step two.
第二步。
07:36
Retail sees the breakout.
散戶看到突破。
07:38
They buy.
他們買進。
07:39
Their stop losses sit just below the entry point.
他們的止損單設在進場點下方一點。
07:42
Step three.
第三步。
07:43
You sell into their buy orders.
你賣給他們的買單。
07:45
They provide the liquidity you need.
他們提供了你需要的流動性。
07:48
Step four.
第四步。
07:49
Once you've sold enough, you let price fall.
一旦你賣出足夠的量，就讓價格下跌。
07:51
Their stop losses trigger, liquidations cascade, and you buy back lower if you want to reload.
他們的止損單被觸發，清算連鎖反應，如果你想重新佈局，就可以在較低價位買回。
07:58
This is called a liquidity grab or a bull trap or a stop hunt.
這被稱為流動性獵取，或牛市陷阱，或止損獵殺。
08:04
It's not conspiracy.
這不是陰謀。
08:05
It's not manipulation in the illegal sense.
這不是非法意義上的操縱。
08:08
It's just how big money moves.
這只是大資金的運作方式。
08:11
Think of it like fishing.
把它想像成釣魚。
08:12
You don't just throw a net randomly into the ocean.
你不會隨便把網丟進海裡。
08:15
You find where the fish are.
你會找到魚在哪裡。
08:17
You use bait.
你會使用誘餌。
08:19
You wait.
你等待。
08:20
And then you pull.
然後你拉動。
08:21
Institutions find where retail stop losses are clustered.
機構會找出散戶停損單聚集的地方。
08:25
They bait price into those zones, and they capitalize.
他們會將價格誘入這些區域，然後獲利。
08:29
So how do you spot this?
那麼你該如何發現這個情況？
08:30
Look for sharp wicks above or below key levels.
尋找關鍵價位上方或下方的尖銳K線。
08:34
Look for fake breakouts that immediately reverse.
尋找立即反轉的假突破。
08:37
Look for price sweeping liquidity zones, then snapping back.
尋找價格掃過流動性區域後又迅速回抽。
08:42
But here's the thing.
但重點是。
08:43
You can see the trap being set, but how do you know if it's working?
你可以看到陷阱正在設置，但你怎麼知道它是否奏效？
08:47
That's where layer three comes in.
這就是第三層的作用。
08:50
Volume.
交易量。
08:50
Layer three.
第三層。
08:52
Volume confirmation.
交易量確認。
08:54
This is the truth serum.
這是真相的試金石。
08:56
This is what separates real moves from fake moves.
這區分了真實的走勢和虛假的走勢。
09:00
Volume tells you how much money actually changed hands at each price level.
交易量告訴你每個價位實際有多少資金易手。
09:05
If price moves up, but volume is low, it's weak.
如果價格上漲，但交易量卻很低，那就是弱勢。
09:09
It's not backed by conviction.
這沒有得到堅定的支持。
09:11
It's probably a trap.
這很可能是一個陷阱。
09:13
If price moves up and volume is high, money is flooding in.
如果價格上漲且成交量很高，代表資金正在湧入。
09:18
Institutions are involved.
機構法人正在進場。
09:20
The move has weight behind it.
這波漲勢有實力支撐。
09:22
Think of it like this.
想像一下。
09:23
Price is the scoreboard.
價格就像計分板。
09:25
Volume is the crowd in the stadium.
成交量就像體育場裡的觀眾。
09:28
If the scoreboard says your team is winning, but the stadium is empty, something's wrong.
如果計分板顯示你的隊伍正在贏，但體育場卻空無一人，那就有問題了。
09:34
Maybe it's a practice game.
也許是一場練習賽。
09:36
Maybe nobody cares.
也許沒人關心。
09:37
The scoreboard alone doesn't tell the full story.
單看計分板無法得知全貌。
09:41
The same is true in markets.
市場也是如此。
09:43
Price breaks above resistance.
價格突破了阻力位。
09:45
Looks bullish, right?
看起來看漲，對吧？
09:47
But if volume is dropping as price rises, that's a red flag.
但如果價格上漲時成交量卻在下降，那就是一個警訊。
09:52
It means fewer and fewer buyers are participating.
這意味著越來越少的買家在參與。
09:56
The move is running out of steam.
這波漲勢正在失去動能。
09:58
But if price breaks above resistance and volume spikes, that's different.
但如果價格突破阻力位且成交量飆升，那就不一樣了。
10:03
That's real demand.
那是真實的需求。
10:05
That's institutions moving.
那是機構法人在行動。
10:07
That's a move you can trust.
那是一波你可以信任的行情。
10:09
Let's go back to October 10, 2025.
我們回到 2025 年 10 月 10 日。
10:12
Bitcoin was at $126,000.
比特幣當時是 126,000 美元。
10:16
Social media was euphoric.
社群媒體上充滿了狂喜。
10:18
Everyone thought it was breaking higher.
每個人都認為它會繼續走高。
10:20
But if you looked at the volume, you'd see something chilling.
但如果你觀察成交量，你會看到令人不寒而慄的東西。
10:24
For the previous three days, price kept making higher highs.
在過去三天裡，價格不斷創下新高。
10:28
But volume kept dropping.
但成交量卻不斷下降。
10:31
Each new high had less participation, less money moving, less conviction.
每個新高點的參與度都更低，資金流動更少，信念也更弱。
10:37
That's a classic sign of distribution.
這是出貨的經典跡象。
10:41
Institutions were selling.
機構正在賣出。
10:43
Retail was buying, but the buying was getting weaker.
散戶在買入，但買盤越來越弱。
10:47
And then on day four, the crash.
然後在第四天，崩盤了。
10:50
If you'd been reading volume, you'd have seen it coming.
如果你一直在關注成交量，你就會預見到這一點。
10:53
Not with certainty, but with probability, with awareness.
不是百分之百確定，而是有概率，有警覺性。
10:58
And that's the edge, not prediction, preparation.
這就是優勢，不是預測，而是準備。
11:02
Okay, let's put all three layers together and walk through October 10, step by step.
好的，讓我們將這三個層面結合起來，一步一步地走過 10 月 10 日。
11:08
Layer one, the cycle.
第一層，週期。
11:11
Bitcoin had been in markup since July.
比特幣自七月以來一直處於上漲階段。
11:14
Months of uptrend, euphoria building, news turning bullish.
連續數月的上升趨勢，不斷增強的狂喜，新聞轉為看漲。
11:19
Everyone talking about $150K by Christmas.
每個人都在談論聖誕節前達到 15 萬美元。
11:23
But if you look at the Wyckoff cycle, we were clearly entering distribution territory.
但如果你看看 Wyckoff 循環，我們顯然進入了派發區域。
11:29
The trend was mature.
趨勢已經成熟。
11:31
Exhaustion was setting in.
衰竭開始出現。
11:33
Layer two, smart money tactics.
第三層，聰明錢的策略。
11:37
On October 3rd, 5th, and 7th, price made three attempts to push price up.
在 10 月 3 日、5 日和 7 日，價格進行了三次向上推升的嘗試。
11:43
Each attempt swept liquidity above the previous high.
每次嘗試都掃蕩了前高點上方的流動性。
11:47
Each attempt triggered retail buy orders.
每次嘗試都觸發了散戶的買單。
11:50
Each attempt gave institutions the liquidity they needed to unload.
每次嘗試都為機構提供了他們需要拋售的流動性。
11:55
And notice, each breakout attempt failed within hours.
請注意，每次突破嘗試都在幾小時內失敗。
11:59
Price would spike, then fall back.
價格會飆升，然後回落。
12:02
That's not bullish strength, that's distribution in action.
這不是看漲的強度，這是派發在起作用。
12:06
Layer three, volume.
第四層，成交量。
12:09
This is where it gets damning.
這就是問題所在。
12:11
October 3rd, Bitcoin hit $123,000.
10 月 3 日，比特幣達到 123,000 美元。
12:15
Volume, 24 billion.
成交量，240 億美元。
12:18
October 5th, Bitcoin hit $125,000.
10 月 5 日，比特幣達到 125,000 美元。
12:22
Volume, 19 billion.
成交量，190 億美元。
12:25
October 7th, Bitcoin hit $126,000.
10 月 7 日，比特幣達到 126,000 美元。
12:29
Volume, 14 billion.
成交量，140 億美元。
12:32
Price going up, volume going down.
價格上漲，成交量下跌。
12:35
That's divergence.
這就是分歧。
12:37
That's distribution.
這就是派發。
12:38
That's institution selling while retail is buying.
這就是機構在賣出，散戶在買入。
12:42
And then, the price dropped.
然後，價格下跌了。
12:44
Establishing a series of lower lows and lower highs.
形成了一系列更低的低點和更高的低點。
12:48
On October 10th, the trap was sprung.
10月10日，陷阱啟動了。
12:51
Price spiked to $122,000 one more time.
價格再次飆升至122,000美元。
12:55
Then it collapsed.
然後它崩盤了。
12:57
$102,000 in six hours.
六小時內跌至102,000美元。
13:00
$19 billion in liquidations.
190億美元的清算。
13:03
Retail traders who bought the breakout were wiped out.
追逐突破的散戶交易者被清出場。
13:08
Institutions who'd been selling for three days were sitting in cash.
連續賣了三天的機構則坐擁現金。
13:12
Watching.
靜觀其變。
13:13
This wasn't luck.
這不是運氣。
13:15
This wasn't insider information.
這也不是內幕消息。
13:17
This was reading the layers.
這是解讀層次。
13:20
Layer one told you were late in the cycle.
第一層告訴你，你已經處於週期的後期。
13:23
Be cautious.
要謹慎。
13:24
Layer two told you, liquidity grabs are happening.
第二層告訴你，流動性誘捕正在發生。
13:28
Traps are being set.
陷阱正在設置。
13:30
Layer three told you, volume is declining.
第三層告訴你，成交量正在下降。
13:33
The move isn't real.
這個走勢不是真的。
13:35
If you'd been watching all three, you wouldn't have been caught.
如果你一直在關注這三層，你就不會被套牢。
13:39
You might not have shorted it, but you wouldn't have longed it either.
你可能不會放空它，但你也不會做多。
13:42
You'd have been on the sidelines.
你會在一旁觀望。
13:44
Prepared.
做好準備。
13:45
And that's the skill we're building here.
這就是我們在這裡培養的技能。
13:47
Now let's talk about why traders still lose even when they know these concepts.
現在我們來談談為什麼交易者即使知道這些概念，仍然會虧損。
13:52
Because knowing isn't enough.
因為光是知道還不夠。
13:55
Execution is everything.
執行力才是關鍵。
13:57
Mistake one.
錯誤一。
13:58
Ignoring the bigger timeframe.
忽略較大的時間週期。
14:00
You see a bullish setup on the 15 minute chart.
你在 15 分鐘圖上看到一個看漲的設置。
14:03
Volume's good.
成交量不錯。
14:04
Structure looks clean.
結構看起來很清晰。
14:06
You enter.
你進場了。
14:07
But if you'd zoomed out to the four hour chart, you'd see you're buying into a distribution zone.
但如果你放大到 4 小時圖，你會發現你正在買入一個派發區。
14:12
You're trading against the bigger cycle.
你正在逆著較大的週期交易。
14:15
Always trade with the bigger timeframe, not against it.
永遠順著較大的時間週期交易，而不是逆著它。
14:19
Mistake two.
錯誤二。
14:20
Letting FOMO override the data.
讓「錯失恐懼症」壓倒了數據。
14:23
You see Bitcoin pumping.
你看到比特幣在漲。
14:24
Social media's going crazy.
社交媒體上瘋狂討論。
14:26
Your group chat is celebrating.
你的群組聊天室在慶祝。
14:28
You know the volume is declining.
你知道交易量正在下降。
14:30
You know it's late cycle.
你知道這已經是週期的後期。
14:32
But you don't want to miss out.
但你不想錯過。
14:34
So you enter anyway.
所以你還是進場了。
14:36
And then you're holding a losing position, hoping it comes back.
然後你就持有一個虧損的部位，希望它能回升。
14:39
The market doesn't care about your emotions.
市場不在乎你的情緒。
14:42
It rewards discipline.
它獎勵紀律。
14:44
Mistake three.
第三個錯誤。
14:46
Overcomplicating the process.
過度複雜化流程。
14:47
You start adding 15 indicators.
你開始加入 15 個指標。
14:50
You're watching eight time frames.
你觀察八個時間週期。
14:52
You're cross referencing divergences, oscillators, moving averages.
你交叉比對背離、震盪指標、移動平均線。
14:57
And then you're paralyzed.
然後你就癱瘓了。
14:58
Too much data.
數據太多。
15:00
No clarity.
沒有清晰度。
15:01
No action.
沒有行動。
15:02
The best traders keep it simple.
最優秀的交易者會保持簡單。
15:04
Cycle.
週期。
15:05
Liquidity.
流動性。
15:06
Volume.
成交量。
15:07
That's it.
就這樣。
15:08
You don't need a PhD in technical analysis.
你不需要有技術分析的博士學位。
15:11
You need clarity on what matters.
你需要清楚什麼是重要的。
15:13
So let's talk about how to actually apply this.
那麼，我們來談談如何實際應用這些。
15:15
Here's your step by step framework for reading any chart.
這是你閱讀任何圖表的步驟式框架。
15:19
Step one.
第一步。
15:20
Identify the cycle phase.
辨識週期階段。
15:23
Is price in a long sideways range?
價格是否處於一個長期的橫盤區間？
15:26
That's accumulation or distribution.
那是吸籌或派發。
15:28
Is price trending strongly in one direction?
價格是否強勁地朝一個方向趨勢？
15:31
That's markup or markdown?
那是上漲或下跌？
15:34
Is the trend mature or fresh?
趨勢是成熟還是新鮮？
15:37
If it's been running for months, be cautious.
如果已經運行了幾個月，要謹慎。
15:40
Start with the daily or four hour chart.
從日線圖或四小時圖開始。
15:42
Get the big picture first.
先掌握大局。
15:44
Step two.
第二步。
15:46
Look for liquidity zones.
尋找流動性區域。
15:48
Where are the obvious support and resistance levels?
明顯的支撐位和阻力位在哪裡？
15:51
Where are stop losses likely clustered?
止損單可能聚集在哪裡？
15:54
Institutions love these zones.
機構喜歡這些區域。
15:57
They'll push price into them to grab liquidity.
他們會將價格推向這些區域以獲取流動性。
16:00
Expect fake breakouts.
預期會出現假突破。
16:02
Expect wicks.
預期會出現影線。
16:04
Expect traps.
預期會出現陷阱。
16:06
Ask yourself, is this move hunting stops or is it genuine momentum?
問問自己，這次走勢是在追逐止損，還是真正的動能？
16:11
Step three.
第三步。
16:12
Check the volume.
檢查成交量。
16:14
If price is making new highs but volume is declining, be skeptical.
如果價格創下新高但成交量正在下降，請保持懷疑。
16:19
If price breaks a key level and volume spikes, pay attention.
如果價格突破關鍵水平且成交量飆升，請留意。
16:24
If volume is flat during a big move, it's probably not backed by institutions.
如果在大幅波動期間成交量持平，那可能沒有機構支持。
16:30
Volume is your confirmation layer.
成交量是你的確認層。
16:32
It's what tells you if the move is real.
它告訴你這次走勢是否真實。
16:36
Step four.
第四步。
16:36
Wait for alignment.
等待一致性。
16:38
Don't trade unless all three layers agree.
除非所有三個層面都達成一致，否則不要交易。
16:41
Cycle says, we're in early markup, bullish context.
週期顯示，我們正處於早期上漲階段，看漲背景。
16:46
Liquidity says, we just swept a low and bounced.
流動性顯示，我們剛掃清一個低點並反彈。
16:50
Trap cleared.
陷阱已清除。
16:52
Volume says, spike on the bounce.
成交量顯示，反彈時出現成交量飆升。
16:54
Real demand.
真實需求。
16:56
That's when you enter.
那就是你進場的時機。
16:58
When all three layers point the same direction.
當所有三個層面都指向同一個方向時。
17:01
If they don't align, you wait.
如果它們不一致，你就等待。
17:04
Patience is the edge.
耐心是你的優勢。
17:06
This framework won't make you rich overnight, but it'll keep you out of bad trades.
這套框架不會讓你一夜致富，但它會讓你避免糟糕的交易。
17:11
And in trading, not losing is winning.
而在交易中，不虧損就是獲利。
17:14
Let me be clear about something.
讓我澄清一件事。
17:16
This approach doesn't predict the future.
這種方法無法預測未來。
17:19
Nothing does.
沒有任何東西可以。
17:20
Markets are probabilistic, not deterministic.
市場是機率性的，而非決定性的。
17:24
That means you can read the cycle perfectly.
這意味著你可以完美地解讀週期。
17:27
You can spot the liquidity trap.
你可以發現流動性陷阱。
17:30
You can see volume divergence and the trade can still lose.
你可以看到成交量背離，而交易仍然可能虧損。
17:33
But here's the difference.
但這就是區別所在。
17:36
When retail traders lose, they don't know why.
當散戶交易者虧損時，他們不知道為什麼。
17:39
They feel helpless.
他們感到無助。
17:41
They blame manipulation or bad luck.
他們歸咎於市場操縱或運氣不佳。
17:44
When professional traders lose, they know why.
當專業交易員虧損時，他們知道原因。
17:47
They had a reason to enter.
他們有進場的理由。
17:49
The probabilities were in their favor.
機率對他們有利。
17:52
But probabilities aren't certainties.
但機率並非必然。
17:54
They accept the loss and move on.
他們接受虧損並繼續前進。
17:57
Trading is about process, not outcomes.
交易關乎過程，而非結果。
18:00
If you follow the process, read the cycle, spot the tactics, confirm with volume, you'll be right more often than you're wrong.
如果你遵循流程、解讀週期、辨識策略、並以成交量確認，你正確的次數將多於錯誤的次數。
18:09
You won't win every trade.
你不會贏得每一筆交易。
18:11
No one does.
沒有人能做到。
18:12
But you'll have an edge.
但你將擁有優勢。
18:14
And over time, an edge compounds.
隨著時間推移，優勢會累積複利。
18:17
Don't chase perfection.
不要追求完美。
18:18
Chase consistency.
追求一致性。
18:20
Trust the process.
相信流程。
18:22
Refine it.
精進它。
18:23
Learn from your mistakes.
從錯誤中學習。
18:25
And slowly, the market will start making sense.
慢慢地，市場將開始變得有意義。
18:27
So where do you go from here?
那麼，接下來該怎麼辦？
18:30
So here's where we are.
那麼，我們目前的情況就是這樣。
18:31
You've learned the three layers.
您已學會這三層。
18:33
Cycle, liquidity, volume.
週期、流動性、成交量。
18:36
You've seen how they work together.
您已了解它們如何協同運作。
18:38
You've walked through a real world case study.
您已探討過一個實際案例。
18:42
You've learned the common mistakes and how to avoid them.
您已學會常見錯誤以及如何避免。
18:45
You now have a framework, not a crystal ball, a framework.
您現在擁有的是一個框架，不是水晶球，是一個框架。
18:51
And that's all you need.
這就是您所需要的一切。
18:52
Because trading isn't about knowing the future.
因為交易並非關乎預知未來。
18:54
It's about reading probabilities and acting with discipline.
而是關於解讀機率並嚴守紀律地行動。
18:59
And if you found this valuable, consider subscribing.
如果您覺得這有價值，請考慮訂閱。
19:02
I create educational content like this every week.
我每週都會製作像這樣的教育內容。
19:06
No hype.
沒有炒作。
19:07
No secret signals.
沒有獨家訊號。
19:09
Just deep breakdowns of how the market actually works.
只有深入剖析市場實際運作的方式。
19:13
The goal isn't to become a fortune teller.
目標不是成為預言家。
19:15
The goal is to become a reader.
目標是成為一名判讀者。
19:18
To see the heartbeat of the market.
看清市場的脈動。
19:20
Where money is flowing.
資金流向何處。
19:21
Where traps are being set.
陷阱正在何處佈設。
19:23
Where real opportunities appear.
真正的機會在何處出現。
19:26
You don't need luck.
你不需要運氣。
19:27
You need clarity.
你需要清晰度。
19:29
Thanks for watching.
感謝您的收看。
19:30
See you in the next one.
我們下集再見。

Reading the HEARTBEAT of the Market (Wyckoff, Smart Money Concepts, and ICT)

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📝 影片摘要

本課程深入探討專業交易者如何運用「市場心跳」的三個層次來解讀市場動態，從而避免散戶常見的錯誤。這三個層次包括：市場週期（威科夫理論）、聰明錢策略（機構流動性獵取）以及成交量確認。影片透過比特幣在2025年10月10日崩盤前的案例，詳細展示了價格結構與成交量足跡如何揭示機構的真實意圖，而非新聞或社群媒體的表面資訊。課程強調，價格僅是廣告，成交量才是真實交易，並提供一個逐步框架，教導如何結合這三層分析，做出更有紀律的交易決策，培養讀懂市場的關鍵技能。

📌 重點整理

  • ✓ 市場的「心跳」由價格結構和成交量足跡組成，而非隨機雜訊。
  • ✓ 專業交易者從三個層次解讀市場：市場週期、聰明錢策略和成交量確認。
  • ✓ 威科夫市場週期包含吸籌、上漲、派發和下跌四個階段，揭示市場的骨骼和結構。
  • ✓ 聰明錢策略透過製造「流動性陷阱」或「牛市陷阱」，誘使散戶提供流動性，以便機構出貨或進貨。
  • ✓ 成交量是區分真實走勢與虛假操縱的「真相試金石」，價格上漲但成交量下降是警訊。
  • ✓ 2025年10月10日比特幣崩盤前，價格創新高但成交量遞減，顯示經典的派發跡象。
  • ✓ 結合三個層次（週期後期、流動性誘捕、成交量下降），可以預見市場的潛在風險。
  • ✓ 常見交易錯誤包括：忽略較大時間週期、讓錯失恐懼症（FOMO）壓倒數據、以及過度複雜化分析流程。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
清算
liquidation
指標
indicator
結構
structure
機制
mechanics
積累
accumulation
狂喜
euphoria
派發
distribution
流動性
liquidity
背離
divergence
或然的
probabilistic

🔍 自訂查詢

📚 共 10 個重點單字
liquidation /ˌlɪkwɪˈdeɪʃən/ noun
the process of closing a business or selling assets, especially to pay debts, or the act of selling a position in a financial market to cover a loss or meet a margin call.
清算；平倉；結算
📝 例句
"Over $19 billion in long positions liquidated in a single cascade."
→ 超過190億美元的多頭部位在一波清算潮中被平倉。
✨ 延伸例句
"Massive liquidations often accelerate market downturns."
→ 大規模清算常會加速市場下跌。
indicator /ˈɪndɪkeɪtər/ noun
a sign that shows you what something is like or what it is going to do; in finance, a mathematical calculation based on historical price, volume, or open interest data, used to forecast market direction.
指標；標誌；徵兆
📝 例句
"It wasn't in some secret indicator."
→ 它不在某個秘密指標裡。
✨ 延伸例句
"Many traders rely on technical indicators to make decisions."
→ 許多交易者依賴技術指標做出決策。
structure /ˈstrʌktʃər/ noun
the way in which the parts of something are connected together, arranged, or organized; in trading, the patterns formed by price action over time.
結構；構造；組織
📝 例句
"Price structure and volume footprints."
→ 價格結構和成交量足跡。
✨ 延伸例句
"Understanding market structure is key to identifying trends."
→ 理解市場結構是識別趨勢的關鍵。
mechanics /mɪˈkænɪks/ noun
the way in which something works or operates; the practical working of something.
機制；運作方式；原理
📝 例句
"They're describing the same market mechanics from different angles."
→ 他們只是從不同角度描述相同的市場機制。
✨ 延伸例句
"The mechanics of supply and demand drive market prices."
→ 供需機制驅動著市場價格。
accumulation /əˌkjuːmjəˈleɪʃən/ noun
the process of gradually increasing in amount; in trading, a phase where smart money buys an asset quietly over time, absorbing selling pressure.
積累；累積；吸籌
📝 例句
"The only true way to read accumulation."
→ 閱讀吸籌的唯一真理。
✨ 延伸例句
"Heavy accumulation often precedes a significant price increase."
→ 大量的吸籌通常預示著價格的大幅上漲。
euphoria /juːˈfɔːriə/ noun
a feeling or state of intense excitement and happiness; in financial markets, a period of excessive optimism and irrational exuberance leading to inflated asset prices.
狂喜；興奮；欣快感
📝 例句
"The euphoria builds."
→ 狂熱情緒累積。
✨ 延伸例句
"Market euphoria can lead to dangerous speculative bubbles."
→ 市場狂熱可能導致危險的投機泡沫。
distribution /ˌdɪstrɪˈbjuːʃən/ noun
the action of sharing something out among a number of recipients; in trading, a phase where smart money sells an asset quietly over time into retail buying demand.
派發；分配；分銷
📝 例句
"Phase three, distribution."
→ 第三階段，派發。
✨ 延伸例句
"Signs of distribution often appear as price struggles to make new highs on weakening volume."
→ 派發的跡象通常表現為價格難以在成交量減弱的情況下創出新高。
liquidity /lɪˈkwɪdəti/ noun
the availability of liquid assets to a market or company; in trading, the ease with which an asset can be converted into cash without affecting its market price, often referring to the presence of buy and sell orders.
流動性；變現能力
📝 例句
"And ICT disciples say only liquidity matters."
→ 而ICT的追隨者則說只有流動性才重要。
✨ 延伸例句
"High liquidity ensures that large orders can be filled without significant price impact."
→ 高流動性確保大額訂單可以在不顯著影響價格的情況下成交。
divergence /daɪˈvɜːrdʒəns/ noun
the process or fact of diverging; in technical analysis, when the price of an asset and a technical indicator move in opposite directions, suggesting a potential trend reversal.
背離；分歧
📝 例句
"That's divergence."
→ 這就是分歧。
✨ 延伸例句
"Bearish divergence between price and RSI often signals a coming correction."
→ 價格與RSI之間的看跌背離通常預示著即將到來的修正。
probabilistic /ˌprɒbəbɪˈlɪstɪk/ adjective
relating to or involving probability; based on or determined by probability.
或然的；機率性的；基於機率的
📝 例句
"Markets are probabilistic, not deterministic."
→ 市場是機率性的，而非確定性的。
✨ 延伸例句
"Trading involves managing probabilistic outcomes rather than seeking certainties."
→ 交易涉及管理機率性結果，而非尋求確定性。
🎯 共 10 題測驗

1 Which of the following is NOT one of the three layers professional traders use to read the market? 以下哪一項不是專業交易者解讀市場的三個層次之一？ Which of the following is NOT one of the three layers professional traders use to read the market?

以下哪一項不是專業交易者解讀市場的三個層次之一？

✅ 正確！ ❌ 錯誤，正確答案是 B

The three layers discussed are Market Cycle, Smart Money Tactics, and Volume Confirmation. Sentiment Analysis was not mentioned as a core layer.

影片中討論的三個層次是市場週期、聰明錢策略和成交量確認。情緒分析並未被提及為核心層次。

2 According to the video, what is the primary difference between 'price' and 'volume' in market analysis? 根據影片內容，在市場分析中，「價格」與「成交量」的主要區別是什麼？ According to the video, what is the primary difference between 'price' and 'volume' in market analysis?

根據影片內容，在市場分析中，「價格」與「成交量」的主要區別是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 A

The video states, 'Price tells you where the market moved. Volume tells you how much money actually moved there.' It also uses the analogy: 'Price is just the advertisement. Volume is the transaction.'

影片指出：「價格告訴你市場往哪裡移動。成交量告訴你實際有多少資金移動到那裡。」它也用比喻：「價格只是廣告。成交量才是交易。」

3 Which market phase is characterized by quiet, sideways movement where institutions are buying quietly? 哪個市場階段的特點是市場平靜、橫盤整理，且機構正在悄悄買入？ Which market phase is characterized by quiet, sideways movement where institutions are buying quietly?

哪個市場階段的特點是市場平靜、橫盤整理，且機構正在悄悄買入？

✅ 正確！ ❌ 錯誤，正確答案是 C

Phase one, accumulation, is described as when 'the market is quiet, sideways, boring... But behind the scenes, institutions are loading up.'

第一階段「吸籌」被描述為「市場平靜、橫盤、無聊...但在幕後，機構正在大量買入」。

4 What is the main purpose of 'liquidity grabs' or 'bull traps' executed by institutions? 機構執行「流動性獵取」或「牛市陷阱」的主要目的是什麼？ What is the main purpose of 'liquidity grabs' or 'bull traps' executed by institutions?

機構執行「流動性獵取」或「牛市陷阱」的主要目的是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

Institutions 'need liquidity' to sell large amounts without crashing the price. They achieve this by setting traps that trigger retail buy orders, providing the necessary liquidity for them to unload.

機構需要流動性才能在不壓垮價格的情況下出售大量資產。他們透過設置陷阱來觸發散戶的買單，從而獲得所需的流動性進行出貨。

5 What did the declining volume during Bitcoin's price increases from Oct 3rd to Oct 7th, 2025, indicate? 2025年10月3日至7日，比特幣價格上漲但成交量下降，這預示著什麼？ What did the declining volume during Bitcoin's price increases from Oct 3rd to Oct 7th, 2025, indicate?

2025年10月3日至7日，比特幣價格上漲但成交量下降，這預示著什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video explicitly states, 'Price going up, volume going down. That's divergence. That's distribution. That's institution selling while retail is buying.'

影片明確指出：「價格上漲，成交量下跌。這就是分歧。這就是派發。這就是機構在賣出，散戶在買入。」

6 Which of Wyckoff's phases is characterized by prices breaking out and retail traders flooding in with FOMO? 威科夫的哪個階段特點是價格突破，散戶交易者因錯失恐懼症（FOMO）而蜂擁而入？ Which of Wyckoff's phases is characterized by prices breaking out and retail traders flooding in with FOMO?

威科夫的哪個階段特點是價格突破，散戶交易者因錯失恐懼症（FOMO）而蜂擁而入？

✅ 正確！ ❌ 錯誤，正確答案是 B

Phase two, markup, is when 'Price breaks out. Retail traders flood in. FOMO kicks in. Everyone's making money.'

第二階段「上漲」是「價格突破。散戶交易者蜂擁而入。錯失恐懼症（FOMO）開始發作。所有人都在賺錢。」

7 What is the first step in the step-by-step framework for reading any chart? 閱讀任何圖表的逐步框架中，第一步是什麼？ What is the first step in the step-by-step framework for reading any chart?

閱讀任何圖表的逐步框架中，第一步是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

The first step in the framework is 'Identify the cycle phase.'

框架的第一步是「辨識週期階段」。

8 Why do traders often lose money even when they know these concepts? 即使交易者了解這些概念，為何他們仍然經常虧損？ Why do traders often lose money even when they know these concepts?

即使交易者了解這些概念，為何他們仍然經常虧損？

✅ 正確！ ❌ 錯誤，正確答案是 B

One of the common mistakes mentioned is 'Overcomplicating the process,' leading to paralysis from too much data.

影片中提到的一個常見錯誤是「過度複雜化流程」，導致數據過多而無法行動。

9 What is the significance of a price breaking a key level with a spike in volume? 價格突破關鍵水平並伴隨成交量飆升，這有什麼意義？ What is the significance of a price breaking a key level with a spike in volume?

價格突破關鍵水平並伴隨成交量飆升，這有什麼意義？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video states, 'But if price breaks above resistance and volume spikes, that's different. That's real demand. That's institutions moving. That's a move you can trust.'

影片指出：「但如果價格突破阻力位且成交量飆升，那就不一樣了。那是真實的需求。那是機構法人在行動。那是一波你可以信任的行情。」

10 What should a trader do if the three layers (Cycle, Liquidity, Volume) do not align? 如果三個層次（週期、流動性、成交量）未能對齊，交易者應該怎麼做？ What should a trader do if the three layers (Cycle, Liquidity, Volume) do not align?

如果三個層次（週期、流動性、成交量）未能對齊，交易者應該怎麼做？

✅ 正確！ ❌ 錯誤，正確答案是 B

The framework states, 'Don't trade unless all three layers agree... If they don't align, you wait. Patience is the edge.'

該框架指出：「除非所有三個層次都同意，否則不要交易...如果它們未能對齊，你就等待。耐心就是優勢。」

測驗完成！得分： / 10

完成課程 🎉