The S&P 500 just took liquidity via short stops, above the last top at 4176.8
Bearish divergence with an RSI doing a higher low and the price a higher high.
The divergence is clearly visible on the Line chart.
Price rejected from the key resistance level at 4162 via a long wick Candle showing selling strength.
Two scenarios to watch:
1- Close above 4176 next target to 4300
2- Close below 4090, direction to the next support between 3900 to 3920.
The Daily Candle close is in less than 10 minutes, to confirm the patern of the Long Wick Candle.
https://www.tradingview.com/x/Kupzhtmh/
Bearish Double Divergence on BTC via RSI and MACD.
The bulls are losing Momentum to the Bears with a MACD almost in the red.
The battle is ongoing between the bulls trying to push higher than the last close at $23,840 and the bears resisting!!!
Possible Daily close above $23,840 towards the next resistance at $28,500, except that the dominant trend is bearish in Weekly given the time frame is longer, so more conformations are needed on a reversal or a fake break out!
I think we're more likely to have a real break out below the last low at $22,610 to test the next support at 21.2K, and then we'll see how price reacts there.
https://www.tradingview.com/x/ibtqVJuv/
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