The Final Capitulation Phase For Bitcoin As Forecast A Realistic Bottom

The primary digital asset bitcoin has failed to hold the support line which we all witnessed it hovering around the $20k market selling price at the beginning of last month to early this month, it’s being said that the current bitcoin market chart is show casing a possible realistic bottom in chart.

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In a YouTube session with Pizzino who is a renowned crypto analyst says that;

“When you get a signal like this – double bottom, any particular signal like that fail – you can see the breakdown here, once this goes beneath that bottom level ($18,600), that is a failure of a double bottom. That usually means you’re going to see lower prices, significantly lower prices than this current low ($18,600).”

Comparison of the correction which happened early this year and mid this year, the analyst is saying that bitcoin is about to experience something like that but won’t be that deadly has servral months back. Which it might be said that the primary digital asset is about to bottom in.

“We always pay very, very, very close attention to what the market sentiment is doing, and the market sentiment is fearful. So the drop-down in price may not be that much. Maybe it goes to $13,000, $14,000, $15,000, $16,000, but in terms of the emotion, it will be extreme. People will feel really, really bad about the move down.

But when you look at it in terms of dollar value, we’ve seen way bigger dollar moves on the way down. I’m not expecting like this (November 2021 to January 2022) or this like this to play out (March 2022 to June 2022).”

At the time of writing this article bitcoin is trading below the $20k mark, 18,668 to be exact.
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