'Sentiment incredibly bearish'? Come on... Sentiment is bearish, and this is normal in a bear market.
It's more bearish than I previously thought, so it seems that this bear market is going to resemble more 2011 than 2013.
But my EW count says that the market is still far from the very bottom. If 400$ will break during the next days and
there will be a rebound from that local bottom, only after that will the 'incredibly bearish' sentiment kick in.
Quoting from Wikipedia: Volume picks up, and by the third leg of wave C, almost everyone realizes that a bear market is firmly entrenched.