gap basically close on SPX

$BTC higher picture we have 1 last support here, then it gets grim.

50W MA double pierced for the 2cnd time while trading below it.

Not looking too good but I believe we get a bounce soon.

Awful PA.
100k retest was rejected as expected but 97.7k hasn‘t held.

We need some reversal very soon but it isn‘t looking good.

Only positive thing I can find is that alts seem to run out of sellers.

But they are down so bad anyways and got beaten for 4 years non stop, it’s not the biggest reason to celebrate…

Unless we get some bullish momentum until the end of the week, we officially enter the bear market today.

SPX futures also dumped further. Let's see how SPX open reacts. If we keep bleeding, I believe it is just over for a few months

Which doesn't look like it right now. I don't really see any support until 90k at this point tbh...

Next major support on SPX is another 3.55% from here.

This would somewhat align with a 89-92k range with BTC.

For today we might have just found a local bottom.

(Gut feeling)

So far so good..

97.7k is the first we need to reclaim, then obviously 100k. Which won't be easy

Rejected off 97.4k and another low...

BTC is giga weak..

Pretty quick reclaim.

First green daily!…on a weekend…

Weekly is going to close below the 50W MA for the first time since March 2023.

This is one trend break many traders are looking at.

I expect a lot of derisking in the coming days. This close is a strong indicator of an upcoming bear market.

lower time frame bullish is that 89-93k range which is a heavy support. As always, weekends are a scam and these moves usually revert for the following week.

I would expect a decent bounce off that range and a retest of 100k within the next days/weeks. However, I am highly sceptical of a sustainable reclaim of 100k given the past days of PA.
A reclaim is the hopium for sure and would make this current move a bear trap. (=hopium does not mean high probability)

Next pivot points: 89-93k and 100k.

Main support hit. If this doesn‘t hold, I don‘t know what will.

This is a real post.

Bottom in for now unless Nvidia crashes the market with their earnings tomorrow.

If we break 94k, it actually looks like a bottom now.