A seasoned Bitcoin (BTC) trader says capitulation is right around the corner for the largest crypto asset by market cap.
In a recent live stream, Tone Vays says there isn’t enough volume on the BTC markets to say we are in capitulation yet.
“We’re not there yet. We’re almost there, this is a horrendous hour… The other problem is that on a daily scale this is telling you it’s not over. The volume is telling you it’s not over. This volume would need to be significantly higher than this volume in order for us to admit this is capitulation.”
Vays then looks at Bitcoin’s momentum reversal indicator (MRI), an advanced technical analysis metric predicting trend life cycles based on an asset’s momentum. The trader says BTC’s MRI