OTHERS is at its most oversold position that it has ever been in. Right now, OTHERS is -2.5+ standard deviations from the mean value. There are only two other times in history that this has been reached. 1. COVID on a wick 2. 2022 Bear market low on a wick But right now, we have a candle sitting on this level, which explains the horrendous sentiment around alts. This kind of overextension has literally never happened... And people think alts are gonna drop by another 50% here? No chance. OTHERS never even expanded this cycle, which is why this correction has pushed us to new records on overextension. For something to contract more, it has to expand more. There was no expansion. These levels right now are truly generational.
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This is most severe its ever been.
OTHERS is at its most oversold position that it has ever been in.
Right now, OTHERS is -2.5+ standard deviations from the mean value.
There are only two other times in history that this has been reached.
1. COVID on a wick
2. 2022 Bear market low on a wick
But right now, we have a candle sitting on this level, which explains the horrendous sentiment around alts.
This kind of overextension has literally never happened...
And people think alts are gonna drop by another 50% here?
No chance.
OTHERS never even expanded this cycle, which is why this correction has pushed us to new records on overextension.
For something to contract more, it has to expand more.
There was no expansion.
These levels right now are truly generational.