Daily research · Chart patterns · written
What happens to a micro-cap coin in the week after a capitulation day?
Short answer
1,560 cases since 2018: in the middle one, a micro-cap coin moved −5.2% in the week after a capitulation day. 63% of the cases ended lower. One case in 10 did better than +16.8%, one in 10 worse than −27.0%. Not tested out of sample yet.
Typical move
−5.2%
over the next 7 days, the middle case
How often
63%
it ended lower
Best 1 in 10
+16.8%
or better
Worst 1 in 10
−27.0%
or worse
Cases
1,560
2018-2026, on 502 days
Higher 37% of the time against 43% on ordinary days (488 days compared): higher less often than on ordinary days.
Share on Xcopy link§ 01 · The pattern1,560 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, on a coin worth under $50M that day (micro caps), and the move that counts is the coin's own.
Each of the 1,560 moves is measured from the close of the day it happened to the close 7 days later.
In our data that gives 1,560 measured cases on 502 separate days, from Nov 19, 2018 to Oct 23, 2026; the numbers were written on Nov 1, 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 three times the usual volume looks like capitulation: holders giving up all at once. Traders 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 1,560 cases since 2018 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 1,560 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 488 of the 502 days had that many to compare.
- Cases on the same day count as one day: the 1,560 cases fall on 502 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 1,560 cases overlap.
§ 04 · Results459 up · 636 down
Results
as of · every past case, Nov 19, 2018 to Oct 23, 2026
Of the 1,560 cases, 459 ended up, 636 down and 465 sideways (within ±4.7%) a week later; the middle case −5.2%, the average day −2.6%.
ended up (459)ended down (636)sideways, within ±4.7% (465)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 | 1,586 508 days | −1.3% | −0.23% | 41% | 47% | higher less often than on ordinary days |
| 7 days this post | 1,560 502 days | −5.2% | −1.7% | 37% | 43% | higher less often than on ordinary days |
| 30 days | 1,390 450 days | −8.7% | −7.5% | 35% | 37% | no clear edge over ordinary days |
At the other horizons: 1 day, typical −1.3% over 1,586 cases; 30 days, typical −8.7% over 1,390 cases.
By year, the typical move ranged from −8.6% in 2022 to +1.4% in 2019; 6 of 8 years leaned the same way as the whole.
Year by year
| Year | Cases | Typical move | Higher | Lower |
|---|---|---|---|---|
| 2018 | 1 | −31.7% | 0% | 100% |
| 2019 | 9 | +1.4% | 55% | 40% |
| 2020 | 16 | +1.1% | 60% | 40% |
| 2021 | 41 | −2.5% | 38% | 62% |
| 2022 | 194 | −8.6% | 22% | 78% |
| 2023 | 168 | −3.8% | 42% | 58% |
| 2024 | 157 | −5.1% | 43% | 57% |
| 2025 | 452 | −5.8% | 34% | 66% |
| 2026 | 522 | −5.1% | 37% | 63% |
The latest 10 cases
| Day | Coin | What happened | 1 day | 7 days | 30 days |
|---|---|---|---|---|---|
| SOPH | SOPH −34.5% that day | open | open | open | |
| KONET | KONET −23.1% that day | open | open | open | |
| D2T | D2T −29.5% that day | open | open | open | |
| BLESS | BLESS −23.6% that day | −2.4% | open | open | |
| TLM | TLM −10.2% that day | +11.5% | open | open | |
| SHELL | SHELL −15.8% that day | +8.5% | open | open | |
| PIPE | PIPE −36.4% that day | +13.3% | open | open | |
| HAEDAL | HAEDAL −25.4% that day | +15.5% | open | open | |
| ETHW | ETHW −10.5% that day | +3.7% | open | open | |
| CELO | CELO −10.8% that day | +1.5% | open | open |
10 cases still open: the 7-day window of the newest closes on Nov 7, 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 1,560 cases above describe the past and are not a prediction.
§ 06 · Verdict
Verdict
as of · plain, with the caveats
In our data a micro-cap coin ended higher less often than on ordinary days (37% against 43% over 488 days), and both halves of the history lean the same way.
A typical −5.2% hides a wide spread: one case in 10 was beyond +16.8% and one in 10 beyond −27.0%.
Calls made from capitulation days have not been tested out of sample yet, so read these 1,560 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 1,560 cases, which flatters the older years.
Markets change, so what capitulation days did from 2018 to 2026 can stop working.
§ 07 · Questions
Questions
as of · answered from the numbers above
- How often did a micro-cap coin end lower in the week after a capitulation day?
- In 63% of 1,560 cases from Nov 19, 2018 to Oct 23, 2026.
- Measured the scoreboard's way, day by day, the share higher was 37% against 43% on each coin's own ordinary days.
- What was the typical move?
- The middle case moved −5.2% over the next 7 days.
- The best 1 in 10 reached +16.8% or more and the worst 1 in 10 −27.0% or less.
- Is this an edge?
- Not on its own: over 1,560 cases it shows higher less often than on ordinary days, and it has not been tested out of sample yet.
- The −5.2% typical move is the past's, and a past pattern can stop working.
- When did it last happen?
- The latest was on Oct 31, 2026: SOPH −34.5% that day.
- Its 7-day window closes on Nov 7, 2026.
- Did it work the same every year?
- No. The typical move was +1.4% in 2019 (9 cases) and −8.6% in 2022 (194 cases).