Last week we saw $SPX get rejected from our major resistance line, which we have said is the most important of all resistance in the markets today.
This is the third consecutive rejection from the macro trend line and also (for now) $SPX is back below the 21WEMA, it is very important to wait and see how this weekly candle closes and the next one, if both stay below the 21WEMA green line then the chances that the correction will continue to the 3400-3500 levels are high.
As long as $SPX is below 21WEMA, we will prioritize shorts over longs in both stocks and crypto.
$SPX 1W Chart
Regarding short-term trading, our indicators have been performing spectacularly on the Bitcoin 4-hour chart, here you can see the latest movements.
Excellent confluence between the various signals, these are calculated using a totally different code for each one, so when we see that several appear at similar times, it is almost certain that a strong movement is coming.
The red and green candlesticks of the "Trend continuation" sub-indicator (Rider Algo #2) are working very well to anticipate moves even during a sideways move.
On the other hand, our new sub-indicator "B" within the trend oscillator serves very well as a confluence with the signals of probable bounce or take profits.
$BTC 4hour chart
Finally, if you have not done it yet, I recommend that you complete our online course, we have done it in a very intuitive way and it works for both new and experienced traders.
We're also adding content regularly, like our latest 12-minute video on how to quickly review multiple assets and organize them. -----------------------------------