GlossaryBear Market Drawdown
Bear Market Drawdown
The percentage distance of the closing price from the highest high ever reached, colored by market phase. It is measured against the wick, not against the highest close: a spike that was never confirmed by a close counts here too.
Zones
| Zone | Range |
|---|---|
| Near ATH | −10 to 0% |
| Correction | −30 to −10% |
| Bear market | −60 to −30% |
| Capitulation | below −60% |
The axis is fixed from −104% to +6%, with reference lines at 0, −10, −30, −60 and −80%. Bear market and capitulation are lightly shaded.
How to read it
What matters is the time spent there: a single candle in the capitulation zone is not yet a bottom, and Bitcoin's cycle lows have so far only come after months below −60%. Because the wick counts, a false breakout above the old high is visible immediately: the reference point jumps to the spike, even if no close confirmed it.
Good to know
- In its current calculation, the mantacharts ATH Drawdown also measures against the highest high. Both curves therefore deliver the same values and differ only in colors, reference lines and axis.
- Runs on any symbol, intended for daily to weekly charts. The only settings are for appearance.