The big bearish signal on the S&P500 is being confirmed but to be careful if today we close below 3900 or not, finally it will be a Daily and Weekly double close below 3900.
the next supports on the S&P500 Index will be at 3720 and then 3637 otherwise nothing to stop until 3500.
I think we are in a strong downtrend on the S&P500 given the terrible macro news, and the MACD going into the red, the RSI below 50, and in my opinion we have just retraced the downward wave to 61.8% of fibo to be rejected and continue the decline, and the reason behind the decline is the increase in interest rates between +0.75% to +1% next Wednesday 09/21 at 20H UTC
https://www.tradingview.com/x/JrZtXxln/
The BTC didn't miss the meeting by following the high correlation with the S&P500.
The Longs are above 72% against the Shorts, and this is clearly visible on the King Fisher liquidation map with the numerous liquidation peaks to the south.
https://coinalyze.net/ksknapshot/303p-iXI
The liquidation map indicates a peak to the north near the price at 19.9K which makes the big leverages like 50X trying to anticipate the short.
I think we will first go to 19.9K to empty the shorts train before going lower to look for the next liquidations at 16.8K / 15.2K and 13.5K, but if the market makers have decided to go down directly there will be nothing to stop them!
Shorting the BTC with leverage 1 is an opportunity to hedge my long-term crypto portfolio which will be down on Spot in the centralized exchanges or in Defi on DEXs and it will allow me to buy the dips with the stables coins via the earnings of the short, otherwise it doesn't matter if the uptrend will be back I would be happy since I am more exposed to cryptos for the long term than trading and stablecoins!
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