Hey guys,

How’s your Wednesday in crypto going? Oh not that good huh? Yeah, mine too.

I’m sort of laughing reading the word capitulation getting thrown about to describe this latest drop.

Now, I don’t really want to alarm you... but. Oh sweet naive crypto children. This isn’t even close to a capitulation 😂.

I was dumb enough to talk about buying Bitcoin with the scrappiest of short term levels yesterday and got stopped out quick smart, but the higher time frame zone is certainly still relevant:

BTC/USD Daily:

Oh yeah... Just too bad that the zone had flipped from being relevant support, to now relevant resistance.

So now price has not only broken that daily trend line marking the last remnants of a bull market, but it has also now broken and retested the horizontal support zone formed by that swing low.

Proper, PROPER bearish.

Don’t worry if you called capitulation too early. It’ll come soon and you’ll still be able to say you’re right.

Stay safe out there kiddos.

✌🏻.

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