$SPX and QQQ have completed 5 waves

SPX and QQQ charts concern me. They have completed 5 waves. The question is if the 5th is extending. If it is extending, then we've completed i of 5 and in ii of 5.

ii of 5 right now is a flat.

Wave 3 is just short of 2.681% of Wave 1 and Wave 5 (or i of 5) is just short of 0.618% of Wave 1, all acceptable ratios for those waves.

If Wave 5 is not extending, then we're in the early stage of a correction to at least 38.2% (6123 or 200 DMA retracement), possibly 50% retracement (5877) .

There is negative divergence on RSI -- lower highs while the index made higher highs.

If the indices enter into a 10-20% correction, BTC is probably going to $75K or lower.