🚨🚨 #Bitcoin Updated, MUST READ!! 🚨🚨~Will we see another price drop for $BTC? Or will we continue to go up from here? Find out in this post.~In this post, I will compare #SPX & #BTC to see if the bottom is in there.~Let's start with SPX (1st photo & 2nd):Stock market and BTC are closely linked and since we had a big correction in the stock market yesterday we saw this decline in bitcoin. But on the positive side, SPX is currently holding the weekly 20 EMA (1st chart) and whenever we touch the 20 EMA we will surge with immense strength while in an uptrend (2nd chart).SPX broke out from the previous ATH and rallied to the 1.272 fib level, then dropped to the 20 EMA and held it as support. We then rallied to the 1.414 fib level and now return to the 20 EMA for support. And we will soon begin our journey towards the 1.618 & 1.786 Fib levels, which will be the SPX Cycle Top and BTC will also form a cycle top with it before the extended bear market begins for cryptocurrency.~Bitcoin Update:1D: As I said before, we have formed a double top on bitcoin's daily timeframe and after a perfect retest of the neckline, we have achieve the technical target of the double peak. Even beyond the target as we have lost the 0.5 fib level. Now we are holding the 0.386 fib level quite well, if this support is lost then the next target is the 0.236 fib level, which I considered highly unlikely but will be on the chart if we lose support.4H: On the 4H timeframe, we have been creating a bullish divergence since July 30, which is very good to look at before the trend reverses. Now I'm waiting to see what happens. If we get close to the 4H 20 EMA, if rejected, the 0.236 fib level is possible. If we get above it then the trend has reversed and we will most likely be bullish.~Thanks for reading; stay safe.🤝🏻~PS: If you liked my post and found it informative, please leave a tip by clicking the yellow tip button below. I will be grateful.❤️
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