BITCOIN vs S&P500 Why we are closer to a 2018 scenario.BitcoinCRYPTO:BTCUSDTradingShotBitcoin (BTCUSD) has started the month on a strong bearish 1M candle, following May's rejection on its 1D MA200. That was a textbook 1D MA200 Resistance rejection that was present on every BTC Bear Cycle. This chart however shows why the current Cycle might be closer to a 2018 Bear Cycle based on the behavior of the S&P500 (SPX). As you can see, BTC tends to Top before the S&P500. This time it topped considerably before, as opposed to 2021/22. This is however what took place in 2018, with BTC topping in December 2017 while the S&P500 in October 2018. BTC had a 'normal' Bear Cycle, while the S&P500 corrected in two separate phases. With the aggressive correction that we see on the S&P500 in the past few days, it is possible that we are just starting a 2nd correction like in 2018. Time-wise it is not unlikely to happen as a new S&P500 bottom within August - September would coincide perfectly with a BTC bottom around October. Notice also that BTC's final flush sell-offs like June 2022 and November 2018 completed a -50% decline and at 'worse' start around the 0.5 Fibonacci level of the completed Cycle. This suggests that a potential bottom zone for Bitcoin could be within $42500 - $38000, which would put the 1M MA100 (green trend-line) to test for the first time ever. Still, with the 1W MA350 (black trend-line) forming the 2022 bottom, $50000 remains the minimum bottom Target in our view. Do you agree that we are closer to a 2018 scenario for both Bitcoin and the S&P500? Feel free to let us know in the comments section below! --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇