High confluence on the S&P 500 correlated with BTC towards a possible rejection.
- Hidden bearish divergence.
- MA 62 as resistance.
- The 61.8% of the Fibo.
- The key resistance area tested twice in the past.
I am neutral in the short term but for the moment we are bullish, and in the medium term I remain bearish until we close above the last + high at 4202 we remain bearish, and even if it is the case better to wait more confirmations on the break of the structure bearish into bullish, We can always have a fake break out and then return at the south.
https://www.tradingview.com/x/YGuYmfb2/
The BTC is almost in the same configuration as the S&P 500 except that in the place of the 61.8% fibo on the S&P 500 we have the 50% fibo on the BTC, I think the last word will be with the S&P 500!
https://www.tradingview.com/x/i6ty1Uim/
The Wyckoff distribution pattern is still up to date, and I think we are doing a pull back with the corrective wave 4 of the last bearish wave 3 before starting the last wave 5 of the downtrend of our bear market, it's only technical analysis with probabilities finally I can always be wrong and the market will go to the moon!!!
https://www.tradingview.com/x/VER7e4LG/
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