It sure seems like the bears are getting greedy. Sentiment check.....
Fear & Greed Index = 17. "Extreme Fear."
The long vs. short ratio on Bitfinex is reaching historically interesting levels. The last time we saw a spread like this, the market was beginning to bottom out in November 2019. Longs have been flushed out nonstop for several weeks running. Meanwhile shorts have more than doubled in the past 2 days. When will the tide turn and the pendulum swing back?
I like your thinking about the Fear Index and Greed Index.
For those who are not into charts, it is a very simplistic, yet often effective way to make profits.
This is of course useful for middle term / long term targets (swing trading or long term investment).