If everyone (most people) think the same, shouldn't you do the opposite?
Be fearful when others are greedy, and greedy when others are fearful. Etc.
That might be the case if the market was completely abstract and removed from ground truths.
My feelings about these things don't come from markets.
I don' think that logic is intended for the top... It is what you should do when you are closing to bottom or are recovering already but most of the market does not yet see it.
Being greedy at the top will take longest time to recover. Catching the falling knife.