**Quick Market Update – 20th May

#Bitcoin has started to pump again and is currently trading close to its major resistance levels at $107K and $109K. Price action looks neutral for now, showing signs of strength but lacking momentum to break through decisively.

However, altcoins continue to underperform. Apart from a few exceptions like $AAVE from my watchlist, most alts haven’t shown the kind of follow through we’d typically expect in such a Bitcoin move. $AAVE is one of the very few alts that have pumped in similar magnitude.

Meanwhile, the S&P 500 is inching towards a key resistance zone at 5990. We’re already seeing signs of early correction in the S&P futures, and if this correction accelerates from here or after touching 5990, it’s likely to spill over into the crypto market as well.

The lack of participation from alts despite a solid move in $Btc and $eth indicates that there is little to no underlying strength in the broader crypto market at the moment.

We’ll wait for the U.S. markets to open and observe the reaction. If we see rejection at key levels, especially in equities, I’ll be looking to initiate shorts in selective altcoins.

- Key short level to watch: $AAVE at $278

- If rejection occurs at this level, I’ll look to short along with a few other setups

- Will keep you posted in real time as the setups play out

Stay alert and manage your risk wisely.**