This is exactly what i mean when i say sentiment rules above all else.
Sentiment > Price > Fundamentals
I dont like betting on the horse other people have already bet on, i would much rather bet on the horse everyone is else about to bet on.
Historically, this change in sentiment often brings about the greatest returns in my trade.
Every seller who wanted to sell has already sold and all we have are new buyers coming in.
After new buyers has purchased, Weak hands that has sell earlier will start panicking that they have missed the train and start buying like crazy which will make a parabolic move to up.