Indices and Stocks in the Red
The stock market has reversed, and now it’s going lower and lower…
Bitcoin: Big Correction ahead!
2021-08-13 • Updated
Bitcoin has exploded during the past three weeks, but now it looks like bulls are losing power as the big seller appeared at the level of $46,700.
30M Chart
On the 30M chart, Bitcoin has formed the rising channel. It is a bearish pattern. As soon as Bitcoin breaks the lower border of the flag, it will go down to the $45,500 support. When it happens, it will be the third time crypto-asset got rejected from the $46,700 resistance level.
1H chart
On the 1H chart, the reversed rising triangle occurred. That is a bearish pattern as well, with the targets at $44.000 and $42.000.
The whole situation might change if Bitcoin breaks the resistance at $46,700. In this care, it will shortly reach $48,000.
Daily chart
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