Bitcoin's recent dump to 74Ks made me redraw some diagonals but these diagonals make perfect sense for a bullish reveal to new All Time Highs!
Bitcoin tested the following supports when it dipped to 74Ks -
1) Yellow diagonal line connecting the two 2021 tops and the 2024 tops!
2) Cyan color falling wedge digonal
3) Red diagonal parallel channel support
4) 50-week simple moving average
Timewise this downtrend correction has taken about 50% of the time compared to the downtrend correction that happened from March 2024 to August 2024. The local top was made at 109K with Trump inauguration into office and now the local bottom is expected to happen post Trump tariff drama.
BTCUSD
Bitcoin tested the following supports when it dipped to 74Ks -
1) Yellow diagonal line connecting the two 2021 tops and the 2024 tops!
2) Cyan color falling wedge digonal
3) Red diagonal parallel channel support
4) 50-week simple moving average
Timewise this downtrend correction has taken about 50% of the time compared to the downtrend correction that happened from March 2024 to August 2024. The local top was made at 109K with Trump inauguration into office and now the local bottom is expected to happen post Trump tariff drama.
BTCUSD 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.