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

The Diamond Top breakout point is at C, as shown in the chart above. The Descending Trendline resistance theoretically validates the breakout that could appear out of the Diamond Top pattern.

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

Timeline of Diamond