BTC 100% retrace to previous local top pattern

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Interesting that each bull run tends to capitulate to the previous local top before moving up. Will 4952 be our capitulation bottom for this bull run?
Interesting. I've done a similar assessment in my drawdown scenarios:

In today's Bitcoin analysis I discuss the ProShares ETF decision, the bullish and bearish setups on multiple time frames and price contraction clearly looking for a big break in either direction, August 23rd is the day to watch:
Nice observation. Saved.
Very likely. Nice clean chart!
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