Given the correlation between the Bitcoin market and the stock market, it is important to examine the state of the US stock market. A look at the chart of the financial markets shows that most of the financial markets are developing bearish patterns.
As you can see in the middle Chart, NDX seems to be developing a bearish pennant pattern. The right chart shows SPX. A bearish flag pattern can also be seen on the SPX chart.
Considering the existing correlation between the stock market and Bitcoin, it can be seen simultaneously that Bitcoin is also developing a bearish flag pattern. (the left chart). Probably, if other financial markets are accompanied by a pattern breakdown, Bitcoin will also break down the flag pattern.
As you can see in the middle Chart, NDX seems to be developing a bearish pennant pattern. The right chart shows SPX. A bearish flag pattern can also be seen on the SPX chart.
Considering the existing correlation between the stock market and Bitcoin, it can be seen simultaneously that Bitcoin is also developing a bearish flag pattern. (the left chart). Probably, if other financial markets are accompanied by a pattern breakdown, Bitcoin will also break down the flag pattern.