{"id":407709,"date":"2019-12-18T12:00:03","date_gmt":"2019-12-18T12:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=407709"},"modified":"2024-06-11T08:57:33","modified_gmt":"2024-06-11T08:57:33","slug":"bitcoin-indicator-screams-price-capitulation-horizon-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-indicator-screams-price-capitulation-horizon-heres-why\/","title":{"rendered":"Bitcoin Indicator “Screams” Price Capitulation is On Horizon; Here’s Why"},"content":{"rendered":"

If you’ve been trading Bitcoin or been following the crypto news cycle, you’ve likely heard of the word “capitulation.” Time and time again, this word, defined<\/a> as “the action of surrendering or ceasing to resist an opponent or demand,” has been used in the context of the cryptocurrency market, often to describe a violent downturn.<\/p>\n

Related Reading: Ethereum Is Now Officially Net Negative in 2019, Down 91% From ATH<\/a><\/h6>\n

Just think back to the headlines seen in 2018, which mentioned the rapid Bitcoin price crash from $6,000 to $3,000 as an act of “capitulation” by crypto bulls. In other words, “capitulation” is reserved only to describe an extremely strong bout of downward price action.<\/p>\n

Thus, the fact that a cryptocurrency trader claims that capitulation is imminent for the BTC price should have some worried, or at least a tad nervous.<\/p>\n

Bitcoin Ready for Secondary Capitulation?<\/strong><\/h2>\n

Bitcoin hasn’t done too hot in the past 48 hours. The leading cryptocurrency is down some 7% in the past 48 hours, tumbling from $7,150 on Sunday to $6,600 as of the time of writing this.<\/a><\/p>\n

While this move obviously favored bears, it wasn’t a clear capitulation event, with the sell-off taking place over multiple days, rather than one big flash-in-the-pan spike downward, then a recovery.<\/p>\n

Though, two analysts have asserted that this latest move to the downside has validated their theories that a full-on capitulation in the Bitcoin market is imminent.<\/p>\n

Trader “FizeekMoney” recently noted<\/a> that the daily on-balance volume chart for the BTC-to-USDT chart on Binance is “screaming [that] capitulation is on the horizon” for Bitcoin. Backing his quip, he looked to the below chart, which shows that the cryptocurrency has lost a support line, implying that bears are gaining control.<\/p>\n

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Daily volume screaming capitulation is on the horizon for $BTC<\/a> pic.twitter.com\/FjY3JjHt5O<\/a><\/p>\n

— Fizeek$ (@FizeekMoney) December 18, 2019<\/a><\/p><\/blockquote>\n