Can see something like this happen. I don't think investors have capitulated from the recent sell off. I think the system had too much leverage and 2017 trauma was still fresh. The liquidations created forced sellers. People didn't actually want to sell, they got rinsed. For real capitulation, I think it requires months of grind down and re-tests of the $30k support line. I anticipate a complacency shoulder followed by months of sideways uncertainty and eventually a break down into mid $20k's. If that happens, I will be an aggressive buyer there.
Note
Suppose we may have some forced sellers again. This is no longer a technical market, it is driven by flow of selling from miners packing up BTC operations. Let's see how low we go.Important levels:
Yearly open
$23k (some decent vol traded there)
$19k (massive volume, previous ATH)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.