The Fear and Greed Index $BTC has reached an "Extreme Greed" level! Regarding this index, there is actually another way to use it, which is to treat it as a momentum indicator like RSI;
If the price makes a higher high, while the FG index shows a lower high, it indicates a sentiment divergence at the top, which occurred once at the end of 2021;
If the price makes a lower low, but the FG index shows a higher low, it indicates a sentiment divergence at the bottom, which occurred at the bottom of the last bear market;
I guess someone will say I'm "implying a bearish outlook" again. Sorry, I'm really not implying a bearish outlook, but rather clearly being bearish based on the context of this index...
How can I prove that my judgment from this index is wrong?
It's very simple: the price continues to make new highs, until the Fear and Greed Index also makes new highs;
In this bull market, the highest FG index was 90, and it is currently at 77. The red line index in the chart has a SMA3 added for easier observation;
So if I'm wrong, then the bull market is coming!!!
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