Miles Deutscher: Bitcoin (BTC) Nearing the End of Its Destructive Capitulation Phase, Sui (SUI), Pepe (PEPE), and Solana (SOL) Present Buying Opportunities

According to analyst Miles Deutscher, Bitcoin is nearing the end of it's destructive ‘capitulation phase.’ However, he also said that BTC might trade

Analyst Miles Deutscher claims that Bitcoin is nearing the end of its destructive ‘capitulation phase.’ However, he also said that BTC might trade sideways for a few more weeks before establishing a clear uptrend.

During this phase, the analyst said that any major pullback would create an opportunity to accumulate various altcoins.

In his latest analysis video, Miles speaks about “Total 3,” which represents the altcoin index excluding Bitcoin and Ethereum. The index is currently in a downtrend, with a critical breakout level around $560 billion. According to him, the index briefly dropped below this level, indicating a possible bearish retest.

If this theory is correct, the analyst predicts one more drop (a “Wick”) like those on July 4th and August 4th. Such a drop could present an excellent buying opportunity at the bottom of the red zone, which is historically a good area for purchasing altcoins.

He then goes on to discuss a few altcoins:

Sui (SUI): The analyst highlights two crucial levels: the high timeframe level at $0.90 and the range low from August 4th. Investors can either buy after a confirmed uptrend or bid in the support zone, especially during a big liquidation event.

Pepe (PEPE): Similar to Sui, the analyst suggests waiting for a confirmed uptrend or bidding in the support zone around the bottom of the August 4th liquidation wick.

Solana (SOL): There’s been a lot of negative sentiment (FUD) around Solana recently. The analyst sees potential buy zones between $120 and $130, with $90 being a worst-case scenario. Despite the current weakness, they believe Solana remains a strong performer in the long run.

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