BTC is building a bottom at the moment and faces resistance from the weekly 20 MA. If BTC exactly behaves like in the last bear market, then it will retest the weekly 200 MA again. And when it holds, there is a good chance to test the downcoming weekly 50 MA in the upcoming weeks.
Bitcoin is sitting at a pivot point on the 1h chart right now.
Trending at least to the 4200 range is expected.
But when it breaks down, it will revise to the mean and the long trade becomes a short trade.
As long as the S&P is traded outside the first standard deviation, lower lows are to be expected.
When the S&P steps back into the 1st standard deviation, the trade becomes a long and will revise to the mean.