#MarketPullback

We need to clarify that the recent trends of BTC have been very similar to those of the S&P 500 for a considerable period. Therefore, we need to pay more attention to the futures trends of the S&P 500, as they are more referential. The only difference between them is the magnitude; the trends are the same.

Although the S&P 500 has shown signs of a peak and upward exhaustion, the magnitude of the pullbacks has been very small each time. The upward trend that started from 5000 points is still quite strong. Therefore, until the S&P 500 shows a clear bearish trend, everyone should not blindly judge the depth of BTC's pullback.

I would prefer to see clear resistance signals near the previous high of 6100 in the S&P, as that would confirm a double top on a weekly level. (See Figure One)

Now talking about BTC:

BTC's trend has already shown a weekly level 2B structure + RSI divergence + MACD divergence (Figure Two), so the trading idea is very clear. When the S&P 500 rebounds, observe BTC's trend, and consider shorting on the rebound. Currently, there is strong support at the 100,000 level, and if it confirms with a pullback, it would be an opportunity to enter a short-term long position. If it does not pull back and continues to rebound directly, then finding entry points based on the US stock trends will also yield the highest prices.

In summary: Understand market trends clearly, make trades based on your certainty, plan the profit and loss ratio for each trade, and do not have any illusions about the market.