Capitulation event.

Market makers have decided to take action in response to the ongoing Mt. Gox and German selling news. People have started selling, and panic is rising. The box has been technically invalidated on the chart after lasting a year and providing great opportunities during this sideways period. I understand the panic, as #BTC    is down 25% from its peak, but as someone who has been here for many years, I can tell you that the FUD we are witnessing right now is special.

Special because of numbers, the amount of selling pressure is huge and we need to know the source for this selling. While the source of selling is clear (Mt Gox and Germans) The selling pressure is 100% artificial and mixed with the fear of retails. We also experienced the second-largest liquidation event in BTC history. The largest liquidation event happened during the FTX crash in 2022. The same type of capitulation event happened back then when Bitcoin moved sideways in a box for five months before breaking down, marking the ultimate capitulation event. I compare today's capitulation event to the one in 2022 when Bitcoin was at $18,000, moving sideways for five months before dropping 15% to $16,000, marking a new phase of market depression. I see the same pattern of market makers using the same psychological patterns here. I would even say that the market makers from the 2022 box formation and capitulation event are the same market makers involved in the current box and capitulation event. For me, these events are nothing more than great opportunities to accumulate more. The same people back then that caused fear and panic and mass liquidations are leaving their finger prints in the chart. Its the same strategy, the same MM that sent us to a new ATH afterwards and you know exactly what happened.