"Buy the dip" calls domination
One of our favourite sentiment indicators is "Buy the dip" mentions.
Ideally this sort of calls happens quite often in the beginning of downtrend, slowly fading to market bottom. This could be explained by increasing crowd disbelief. Less confidence, less patience. At the point of maximal disbelief, a reversal might happen.
What are we seeing now?
- Amount of 'Buy the dip' calls is declining:
2. The same time it's dominance is increasing:
So, how could we read it?
- Overall social activity on crypto market is declining quite fast.
- "Buy the dip" callers becoming more and more dominative in dissolving crowd.
The day they are gone could possibly indicate a bottom. Not there yet.
Thanks for reading!
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