Can see something like this happen. I don't think investors have capitulated from the recent sell off. I think the system had too much leverage and 2017 trauma was still fresh. The liquidations created forced sellers. People didn't actually want to sell, they got rinsed. For real capitulation, I think it requires months of grind down and re-tests of the $30k support line. I anticipate a complacency shoulder followed by months of sideways uncertainty and eventually a break down into mid $20k's. If that happens, I will be an aggressive buyer there.
Important levels:
Yearly open
$23k (some decent vol traded there)
$19k (massive volume, previous ATH)