So what I sometimes do is “doctor” the chart manually to de-noise it. The recent sharp rise and fall is pure noise: The recent fall and rise on the Bitcoin chart is pure noise The recent fall and rise on the Bitcoin chart is pure noiseCREDIT: ADVFN Something hit the price then an event (the president of China spoke on blockchain) poked it up. These events are outside of “the trend” so let’s imagine they didn’t happen. Like a soviet political artist, let’s airbrush these inconvenient events from history. You get this: The Bitcoin chart with the noise removed The Bitcoin chart with the noise removedCREDIT: ADVFN Now that’s a pretty clear picture. Bitcoin is tanking towards a capitulation. That bottom looks to be quite near in terms of time but the bottom is hard to call. Here are some ideas: Some suggestions about where the bottom might be for Bitcoin Some suggestions about where the bottom might be for BitcoinCREDIT: ADVFN I think the high and low bounds are unlikely but you can’t really guess or for that matter buy the low because a capitulation, even though it looks important on the chart later, is often an ephemeral moment that only exists for minutes and trades little volume. To reverse this trend will not take much but to do so will need a catalyst and there is none in sight at the moment. Instead there looks to be a hodlers’ opportunity to get some cheap coins coming up.