NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

57% Chance of Bitcoin Price Falling Drastically, According to This Indicator

Yashu Gola
Yashu Gola
1 year ago
2 mins read
btcusd, btcusdt, crypto, cryptocurrency, xbtusd, bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • There is a 57 percent chance of Bitcoin undergoing a bearish breakout, according to a standalone indicator.
  • The warning pops at a time when the cryptocurrency is testing a 2.5-year-old trendline as its primary resistance.
  • If valid, then the bitcoin price can fall towards $7,700.

Bitcoin has confirmed the presence of a standalone technical indicator that could send its price down to $7,700.

Dubbed as Diamond Top, the fractal pattern appears when an asset forms “higher peaks and lowers valleys,” eventually trapping the price action in a diamond-shaped area. Discovered first by prominent technical analyst Tom Bulkowski, the indicator is slightly bearish, for its occurrence leads the assets to fall 57 percent of the time.

btcusd, btcusdt, crypto, cryptocurrency, xbtusd, bitcoin
BTCUSD in a Diamonds Top pattern | Source: TradingView.com, BitStamp

A textbook description of the Diamond Top article highlights successive formations of these characteristics: Uptrend, Shaping, Higher Peaks Lower Valleys, Touches, and Breakout.

Pitting them against Bitcoin’s current price movements paints a similar scenario.

The cryptocurrency was trending upwards (point A to B); it formed the diamond shape (B to C), it touched each trendline at least twice and is now looking to undergo a breakout. 57 percent chance that the next move is to the downside.

Another Resistance

The Diamond Top breakout point is at C, as shown in the chart above. The juncture coincides with a 2.5-year-old Descending Trendline resistance that has capped Bitcoin from extending its upside moves. The cryptocurrency’s seven latest pullbacks occurred owing to the same price ceiling.

btcusd, btcusdt, crypto, cryptocurrency, xbtusd, bitcoin
BTCUSD test long-term Descending Trendline as resistance | Source: TradingView.com, BitStamp

The Descending Trendline resistance theoretically validates the breakout that could appear out of the Diamond Top pattern. The selling pressure near the confluence would be higher, leading to price falling back to retest its 200-day moving average (orange).

Coincidentally, the support wave also falls near the Diamond Top’s breakout target.

Bitcoin Price Target

Bulkowski states that “the crash site (downtrend end)” following the Diamond Top breakout is “often near the price level of the launch site (uptrend start).”

diamond top, btcusd, btcusdt, crypto, cryptocurrency, xbtusd, bitcoin
Diamond Top example | Source: The Pattern Site

That said, bitcoin risks falling back towards point A after its breakout. The said downside target is slightly above $7,700 – the same level offered support to Bitcoin’s downtrends in September 2019, October 2019, January 2020, and March 2020.

Meanwhile, there is still a 43 percent chance of Bitcoin rejecting bears. Should that happen, the cryptocurrency would rise by as much as the height of the Diamond Top. That puts its upside breakout target near $11,800.

Photo by Joanna Nix on Unsplash
Tweet123Share220ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP Price Pops and Drops

XRP Price Pops and Drops — Can Bulls Regain Control?

XRP price started a strong upward move above the $2.250 zone and tested $2.35. The price is now correcting gains...

Aayush Jindal 2 hours ago
Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin has continued to trade within a tight range just below its previous all-time high, showing recent signs of upward...

Samuel Edyme 2 hours ago
Ethereum Price Hits Support

Ethereum Price Hits Support – Can It Launch a Fresh Move Higher?

Ethereum price started a fresh increase above the $2,520 zone. ETH is now correcting some gains and might aim for...

Aayush Jindal 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

Mark Mak 43 minutes ago
Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

Keshav Verma 1 hour ago
BNB Price Gears Up for Upside Break

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • SWL Miner launches the best free cloud mining for BTC...

    9 minutes ago
  • Criptomoneda alternativă în trend față de Dogecoin (DOGE) care poate transforma 3.200 RON în 320.000 RON în 4 luni

    Criptomoneda alternativă în trend față de Dogecoin...

    30 minutes ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    9 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    9 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.