As I already stated, I don't consider sentiments to be a very good thing to attempt to figure out what to do and/or how to attempt to maximize the amount of bitcoin that you are able to accumulate without getting mislead into some baloney mumbo-jumbo that may or may not be correct... so you may well not end up accumulating more BTC because you end up getting your measures of sentiment (or whatever people are telling you about sentiment) wrong.
Fuck sentiment. It is not that helpful, even if you believe that it is.. and even if you want to strategize your BTC accumulation approach what you believe sentiment to be.
You are very correct, and I also hate the sentiment thing because, it will make you not to have your own strategy that will be flexible with the price of bitcoin as it goes up and comes down. and deprive you from accumulating the number of bitcoin that you want fast. It is better that if one wants to accumulate bitcoin within a long period of time, the DCA method will help that person to stay more focus and well prepared towards accumulating and this plan can be achieved. But when sentiment is involved, it will become a distraction and that will make one lose focus towards his goal.
Consistently looking at the market sentiment before buying is itself a sign of panic and lack of strategy. When I was not using DCA method, I spend too much time on the chart looking for dips and setting price level alerts. This comes with serious anxiety, pain and consume so much time.
On a second thought, market sentiment can be deceptive sometimes considering how volatile Bitcoin is. The prolonged consolidation should not make us forget so fast that Bitcoin can jumb $2k -$5k within a day; that is how volatile Bitcoin can be. How will someone using market sentiment to make investment decision cope with this level of volatility?
Perhaps, most of the people watching market sentiment are scalpers who are just looking for quick profits.