As I mentioned last week, we returned to looking at the S&P 500, validating the next moves as a thermometer for the $BTC C. At the moment, it maintains its main upward structure, trading near its highs, even after a significant expansion. The index is up +18.67% in 12 months and +71.07% in 60 months, numbers that show the strength of the move over the longer horizon.
๐In the short term, however, we are already observing a loss of strength and some profit-taking after the recent highs. For now, the reading remains as a correction within a still positive larger structure, with no confirmation of reversal.
Technically, a deeper correction in the SPX, especially if it starts to lose relevant structures and move toward long-term references such as the 200-day average, would signal a more consistent reduction in risk appetite
$AKE
$PEPE
.#XRPLedgerPatchesXRPCreationBug #STRKRisesAbout20%In24Hours #TetherFreezesUSDTLinkedToLedgerTheft #CFTCMovesToFoldEventContractsIntoSwapsRules #LedgerPausesCryptoBilisSales
๐In the short term, however, we are already observing a loss of strength and some profit-taking after the recent highs. For now, the reading remains as a correction within a still positive larger structure, with no confirmation of reversal.
Technically, a deeper correction in the SPX, especially if it starts to lose relevant structures and move toward long-term references such as the 200-day average, would signal a more consistent reduction in risk appetite
$AKE
$PEPE
.#XRPLedgerPatchesXRPCreationBug #STRKRisesAbout20%In24Hours #TetherFreezesUSDTLinkedToLedgerTheft #CFTCMovesToFoldEventContractsIntoSwapsRules #LedgerPausesCryptoBilisSales