Bitcoin has tumbled again today as the market continues to see further downward movement shortly after breaking two areas of market support. So far, bitcoin is down 15% on the day — 25% in 1 week:
Figure 1: BTC-USD, Daily Candles, Downward Continuation
This drop below support is starting to display hallmarks of market capitulation. After most of the sellers got out of the market earlier this year, bitcoin managed to consolidate sideways for about 9 months in the form of a descending triangle.