Quickpost: SPX Looking for a Head and Shoulders

I see a potential head and shoulders created by the interaction of two trend lines. the blue trend line has flipped from resistance to support repeatedly and so has the black trendline. There is plenty of divergences to review on whatever time frame you like but do like the 12h. We can see the signal line waveing gently as it established a lower high while the price action goes higher. Given the macro conditions we could go up for the week and then dump next week.

Below is the dump of bitcoin from November 2018. Same cross of support and resistance setting up a head and shoulders. I expect we will see something resembling the purple circle if and when the head and shoulders I think is developing actually develops. This is a time people could go in big with very tight stops and get some massive risk reward ratio.

The original pattern would be negated if we set a high higher or roughly equal to the head. It would be nice to see a right shoulder that is weaker than the left. the red dashed line, if mounded as support on a high timeframe would also serious put the trade at risk, even if we set a lower high.