🔥 Bitcoin Is Ranging Since June'22: Time Based Capitulation

Bitcoin is boring for nearly a year. The most interesting thing that happened was the FTX collapse in November, but that's it. Also, it only caused a marginally lower low.

In my view, we're currently inside the "time-based capitulation" period of the bear market. Remember, capitulation (investors leaving) will occur due to prices falling (liquidations) or the market being boring.

As long as we're trading inside this box, there's little reason for retail traders to come back. Since traders are mostly interested in bullish price action, nothing worth noting will happen as long as we can't break $25,200.

Eventually, BTC will break 25.2k, but it remains unclear when that will happen. We could theoretically trade between 20k - 24k for another few months.

Do you think we're going to break out bullish or bearish from this range? Share your thoughts.🙏