The same asset behaves differently in different phases — this is often underestimated.

The same coin can show completely different behavior depending on the phase of the market. An asset that seems 'strong' can easily disappoint if the entry occurs outside the context of the current cycle.
The market moves in phases: accumulation, impulse, distribution. Each of them has its own requirements for expectations and actions. Without understanding the phase, even a quality project turns into a source of disappointment and doubt.