Fear ans Greed Index has reached 11 "extreme fear" it has not dropped below that since March 2020.

We all know how much fear there is right now as Crypto just dropped below 33k erasing it's January low. The Fear and Greed Index has now officially hit 11, which is seen as very extreme fear. Suprisingly the index has hit that mark about seven times in the past year. But it never went below it...

So it certainly can be seen as a indicator that some relief rally imminent as Bitcoin also made its sixth red weekly candle in a row. Six red weekly candles only happened in ~2014. Not even 2018. Obviously im not calling for a direct recovery or so or any bottom. Just a relief that will make those indicators rebound a bit. Because a sub 10 Fear and Greed Index would be the first in history.

But just as always it's about having patience and not making any big decisions on short-term price actions. This too, shall pass.