The fear is an indication of Bulls we got extreme one here are the three scenarios for btc this rally is probable to close above 70k and retests 60k and if successful we bull run will happen

there are other two one is we go to 60k and retest 50k and then again bullish

but if we closed at 60k and retests fail then we will get bearish but good news is we just touched 3 day moving average if this candle closes above 55 we are good