extremersi

Here's a thought that might ruffle some feathers.

Fear Greed 23, Extreme Fear, the same old story is back in the square—"Extreme fear equals opportunity" "When others are fearful, I'm greedy." Every time we drop into this zone, someone pulls out Buffett's quote to preach. But looking back, at 25 last week, people were calling for the bottom, and even at 28 before that. Even I got slapped in the face on the 22nd.

Right now, I actually think: **those buying the dip in panic are the most dangerous crowd this round.**

I’m not saying a bottom doesn’t exist, but most folks say "buy in fear" without even looking at the structure. Bed 1 is currently at $1,988, and my position at 2180 is down nearly 9%. The 4-hour level shows 11.1%, which looks slightly better than the 3.8% when I averaged down on the 22nd, but the weekly chart hasn’t confirmed anything. ETH’s OI is $31.28B, with an OI/MC ratio of 13.04%—that’s over three times higher than BTC's 3.74%. What does this indicate? The leverage is piling up too thick. Today, longs liquidated $24.4M and shorts $20.5M, looks pretty even, right? But think about it, the price barely moved, only down 0.16%, yet both sides are bleeding out.

This isn’t building a bottom; it’s a meat grinder.

Honestly, I’m getting a bit tired of staring at the data panel. Every night after my shower, I slap on a face mask and take a look, and while the numbers change, the structure remains the same. It feels like checking in on a long-term patient; the ECG line on bed 3 still shows the same pattern. You know he hasn’t worsened, but he also hasn’t improved, and there’s nothing you can do.

I’m neither adding to nor reducing my position on bed 1; I’ll wait for 14 days. I’ll speak again after two weekly closes. For those shouting "fear equals opportunity," have you thought—if fear and greed stay between 20-30 for three consecutive weeks, is the market really giving opportunities, or has it not dropped at all #ExtremeRSI ?