S&P 500: I Think The Stock Market Has Topped Seriously. This could be a bad moment for the world that could possibly kick off a recession. If the S&P 500 drops, it could take down Bitcoin, Gold, and Silver with it When there's a huge, fear-driven move, almost all markets sell off into cash, creating what's called a correlation one moment. It's because all assets instantly correlate to +1, because they're all dumping into dollars at once So just because Bitcoin is looking bullish, this could be a catalyst that causes more selling in Bitcoin. Price is struggling at the resistance boundary of a rising wedge shaped pattern. This could be an ending diagonal per Elliott Wave Technicals appear to support this, following a perfected TD8 and TD9 sell setup. The RSI closing back below 70 will trigger selling. The LMACD is crossed bearish with a divergence. The Fisher Transform is showing the same behavior. This is NOT good. The one caveat. It's so early in the month these signals could be gone by the end of the month. But I really tend to not think so. Momentum is non-existence, and starting to topple over. The VIX spiked above 20. Something big is coming and I don't think the move is up. What this does to Bitcoin or alts is anyone's guess. It is a little unusual, because Bitcoin's chart looks decent, and so do some altcoins like HYPE. This is a major watch closely moment I'll collect my thoughts more, but for now I shorted with a stop loss over 7000