‘Final warning’ as Bitcoin faces imminent devastating capitulation
As Bitcoin (BTC) continues to trade in a consolidation phase below $65,000, technical indicators and historical performances suggest that the maiden cryptocurrency might be on the brink of significant capitulation in the coming months. In particular, crypto trading expert Alan Santana’s analysis in a TradingView post on April 27 suggested that Bitcoin could drop over 50% from its current price to $30,000. The analyst warned investors to beware of the imminent “ capitulation drop,” which he suggested marks a significant event that occurs only once every several years. Santana’s calculations are based on Bitcoin’s average trading range over the past month and a half, which sits around $66,600. Picks for you Popular Bitcoin wallet bans United States citizens from its service 16 mins ago Has Bitcoin topped out? Peter Brandt signals potential end of bull run 34 mins ago Opportunity? Silver to face historical deficit as industrial d...