$SPX /USDT ‌

$SPX is currently trading around 0.609, showing a sharp drop of nearly -8.5% over the last 24 hours. After a strong sell-off from the 0.68 area, the market entered a temporary relief bounce, but overall structure still looks weak.

On the 1H timeframe, bearish pressure dominated earlier, followed by a short recovery from the 0.585 support zone. This bounce looks more like a dead-cat bounce rather than a confirmed trend reversal, as volume has not expanded aggressively and price is still below key resistance.

If buyers fail to reclaim higher levels with strength, another leg down is possible.

Trade Setup (Bearish Bias)

Entry Zone:
• 0.615 – 0.625 (near resistance & rejection zone)

Target 1 🎯:
• 0.595 (minor support)

Target 2 🎯:
• 0.575 (previous wick support)

Target 3 🎯:
• 0.545 – 0.550 (liquidity & breakdown area)

Stop Loss:
• 0.645 (above local structure high)

Alternative Scenario (Bullish Invalidation)

If SPX breaks and holds above 0.63 with strong volume, bearish bias weakens and price may extend toward 0.66–0.68 in a short squeeze move. That’s the level where confirmation is required before expecting a larger rally

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