I published an idea on BTC capitulation (see link below) ten days ago. This post is a new update on when BTC would go to this level.
As you can see, BTC is losing the “210K line”, a very meaningful trendline that I’ll explain this in my future post. My prediction says that BTC would go down around the 200W MA Line and the dashed trendline next to this 200W MA, so around $21600-$22800. Depending on the selling intensity, we may have a wick lower than $21000 but must be above the EL line (around $17000).
I expect a quick reversal of BTC after reaching this capitulation level to see again the “210K Line”, so around $33000.
This article was originally published by Tradingview.com. Read the original article here.
