High confluence on the S&P 500 in Weekly wich is showing a lot of bearish signals
- Bearish divergence on the RSI.
- The key resistance at 4325 in confluence with the trend line, the 61.8% fibo, , and the MA 62.
We are now at the 4325 on the S&P 500, so to see how the price action will react at this level.
A bearish signal in Weekly is not enough, you have to see in a lower time frame like 1D and H4 if the sellers are back either with a break of structure via a lower low, a pattern of red engulfing candle or with a long wick and a small body at the bottom, or a confirmation of Bear flag after breaking the trend line of the bullish channel!
https://www.tradingview.com/x/XrsaNcSj/
11.1K BTC arrived on the exchanges today, really not bullish!
Back to the same starting point of August 3 since the massive arrival of BTC on the exchanges via the big peak.
Sellers have not yet started to liquidate their BTC, the balance is positive on 24H / 7D and 30D,
A possible Long squeeze to the south on BTC, provided that the S&P 500 will be rejected from its resistance between at 4325!
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