Bitcoin (BTC) staged a modest recovery on Dec. 29 as United States stock markets rebounded in step.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering above $16,600 at the Wall Street open after wicking below the $16,500 for a second day.

The pair remained unappealing to traders, many of whom feared a deeper retracement may still occur around the new year.

In a list of potential “capitulation targets,” Crypto Tony doubled down on $10,000 and lower for Bitcoin, while also revealing expectations for Ether (ETH) to dip as low as $300.

“Things change quick, but if we hit these areas I begin to ladder,” part of accompanying commentary read.

Daan Crypto Trades meanwhile put the current spot price at the bottom of an area which “must hold” for BTC bulls to have a shot at upside.

(by William Suberg)