S&P500 Rounding Top Pattern: Is the Bull Run Losing Momentum?US SPX 500OANDA:SPX500USDpejman_zwinThe S&P 500 index(SPX500) is one of the most important benchmarks in financial markets, as it can quickly and significantly influence related markets like crypto, especially Bitcoin(BTCUSDT), when it experiences sharp movements with high momentum. Thus, analyzing the S&P 500 becomes part of our financial market analysis. Today, I want to review the S&P 500 on a higher timeframe using classic technical analysis—so stay with me. The S&P 500 appears to have formed a Rounding Top Pattern, which is a bearish reversal pattern. (In fact, this is a pattern that indicates a gradual shift from bullish to bearish, as buying momentum fades.) I expect that, since the S&P 500 has broken the resistance zone($6,777-$6,711) and the neckline with strong momentum, we could see a continued drop in the index, which might lead to a decline in U.S. stocks and even Bitcoin in the coming days. First Target: $6,603 Second Target: $6,473(Rounding Top pattern's Target) Third Target: $6,414 Stop Loss(SL): $6,820 Points may shift as the market evolves Note: In case of escalating Middle East tensions in the coming days, we might see a sudden drop in the S&P 500. Thus, managing capital is crucial, especially these days when markets fluctuate more on news and statements. 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌 S&P 500 Index Analyze (SPX500USD), 8-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.