Daily research · Chart patterns · written
What happens to a coin in the week after a capitulation day?
Short answer
2,364 cases since 2017: in the middle one, a coin moved −3.9% in the week after a capitulation day. It ended lower 61% of the time. The best 1 in 10 reached +17.4% or more, the worst 1 in 10 −24.4% or less. Not tested out of sample yet.
Typical move
−3.9%
over the next 7 days, the middle case
How often
61%
it ended lower
Best 1 in 10
+17.4%
or better
Worst 1 in 10
−24.4%
or worse
Cases
2,364
2017-2026, on 560 days
Higher 39% of the time against 44% on ordinary days (539 days compared): higher less often than on ordinary days.
Share on Xcopy link§ 01 · The pattern2,364 cases
The pattern, exactly
as of · the rule, the data, the dates
A case is a crash day (a fall of 3 times the usual daily move and at least 5%) on 3 times the usual volume, and the move that counts is the coin's own.
Each of the 2,364 moves is measured from the close of the day it happened to the close 7 days later.
In our data that gives 2,364 measured cases on 560 separate days, from Dec 22, 2017 to Oct 4, 2026; the numbers were written on Oct 12, 2026.
§ 02 · Why it might work
Why it might work
as of · the idea traders have in mind, not a promise
A crash day on several times the usual volume looks like capitulation: holders giving up all at once. Traders often call such days a washout that marks a low; the numbers below test that idea.
That is the reasoning behind watching capitulation days; whether it held over our 2,364 cases since 2017 is what the next sections measure.
§ 03 · How we tested it
How we tested it
as of · our own closes, against ordinary days
- We measured each of the 2,364 cases from the close of the day it happened to the close 7 days later, on our own daily closes (UTC).
- Each case is set against each coin's own ordinary days (7-day moves starting in the 365 days before it, at least 90 of them), and 539 of the 560 days had that many to compare.
- Cases on the same day count as one day: the 2,364 cases fall on 560 days, and each day's cases are averaged before anything is counted.
- A run of capitulation days within 7 days counts once, so no two of the 2,364 cases overlap.
§ 04 · Results795 up · 914 down
Results
as of · every past case, Dec 22, 2017 to Oct 4, 2026
A week later, the middle case stood at −3.9% and the average day at −1.8%; 795 cases ended up, 914 down and 655 sideways (within ±4.3%).
ended up (795)ended down (914)sideways, within ±4.3% (655)each line one real case · past cases, not a projection
1, 7 and 30 days against ordinary days
| After | Cases | Typical move | Typical, ordinary days | Higher | Higher, ordinary days | Against ordinary days |
|---|---|---|---|---|---|---|
| 1 day | 2,380 565 days | −1.0% | −0.20% | 44% | 47% | no clear edge over ordinary days |
| 7 days this post | 2,364 560 days | −3.9% | −1.4% | 39% | 44% | higher less often than on ordinary days |
| 30 days | 2,185 515 days | −7.3% | −6.1% | 38% | 39% | no clear edge over ordinary days |
At the other horizons: 1 day, typical −1.0% over 2,380 cases; 30 days, typical −7.3% over 2,185 cases.
By year, the typical move ranged from −10.9% in 2018 to +1.4% in 2021; 7 of 9 years leaned the same way as the whole.
By market cap: large caps +1.7% over 146 cases; mid caps −0.18% over 197 cases; small caps −1.7% over 593 cases; micro caps −4.6% over 1,428 cases.
Year by year
| Year | Cases | Typical move | Higher | Lower |
|---|---|---|---|---|
| 2017 | 1 | +15.4% | 100% | 0% |
| 2018 | 14 | −10.9% | 20% | 80% |
| 2019 | 35 | −0.92% | 38% | 61% |
| 2020 | 73 | +1.1% | 49% | 51% |
| 2021 | 105 | +1.4% | 46% | 54% |
| 2022 | 382 | −5.0% | 27% | 73% |
| 2023 | 287 | −4.3% | 39% | 61% |
| 2024 | 215 | −2.4% | 45% | 55% |
| 2025 | 632 | −4.2% | 41% | 59% |
| 2026 | 620 | −4.0% | 37% | 63% |
By market cap on the day
| Coins worth | Cases | Typical move | Higher | Lower |
|---|---|---|---|---|
| over $5B large caps | 146 | +1.7% | 50% | 50% |
| $500M to $5B mid caps | 197 | −0.18% | 46% | 54% |
| $50M to $500M small caps | 593 | −1.7% | 47% | 53% |
| under $50M micro caps | 1,428 | −4.6% | 38% | 62% |
The latest 10 cases
| Day | Coin | What happened | 1 day | 7 days | 30 days |
|---|---|---|---|---|---|
| AGT | AGT −25.2% that day | −2.1% | open | open | |
| SPS | SPS −17.3% that day | +4.2% | open | open | |
| KGEN | KGEN −12.4% that day | +7.0% | open | open | |
| BILL | BILL −13.7% that day | −2.6% | open | open | |
| WELL | WELL −17.5% that day | −3.5% | open | open | |
| UOS | UOS −23.9% that day | −7.6% | open | open | |
| RESOLV | RESOLV −12.9% that day | −6.2% | open | open | |
| GRIFFAIN | GRIFFAIN −35.0% that day | +5.5% | open | open | |
| API3 | API3 −9.6% that day | −5.9% | open | open | |
| MNDE | MNDE −24.8% that day | +11.7% | open | open |
10 cases still open: the 7-day window of the newest closes on Oct 17, 2026.
Source: our daily closes and our dated events, measured on .
§ 05 · Out of samplenot tested out of sample yet
Out of sample
as of · calls like it, scored on data they never saw
Not tested out of sample yet: the lab has not scored calls made from capitulation days at 7 days, so the 2,364 cases above describe the past and are not a prediction.
§ 06 · Verdict
Verdict
as of · plain, with the caveats
In our data a coin ended higher less often than on ordinary days (39% against 44% over 539 days), and both halves of the history lean the same way.
A typical −3.9% hides a wide spread: one case in 10 was beyond +17.4% and one in 10 beyond −24.4%.
Calls made from capitulation days have not been tested out of sample yet, so read these 2,364 cases as a description of the past, not a forecast.
Our price history holds today's coins: coins that died before we began collecting are missing from these 2,364 cases, which flatters the older years.
Markets change, so what capitulation days did from 2017 to 2026 can stop working.
§ 07 · Questions
Questions
as of · answered from the numbers above
- Did a coin usually end lower in the week after a capitulation day?
- In 61% of 2,364 cases from Dec 22, 2017 to Oct 4, 2026.
- Measured the scoreboard's way, day by day, the share higher was 39% against 44% on each coin's own ordinary days.
- How big was the move over the next 7 days?
- The middle case moved −3.9% over the next 7 days.
- The best 1 in 10 reached +17.4% or more and the worst 1 in 10 −24.4% or less.
- Can you trade on this?
- Not on its own: over 2,364 cases it shows higher less often than on ordinary days, and it has not been tested out of sample yet.
- The −3.9% typical move is the past's, and a past pattern can stop working.
- When did it last happen?
- The latest was on Oct 10, 2026: AGT −25.2% that day.
- Its 7-day window closes on Oct 17, 2026.
- Did it work the same every year?
- No. The typical move was +1.4% in 2021 (105 cases) and −10.9% in 2018 (14 cases).