BTC always front-runs SPX and other legacy markets both on strength and weakness. In this chart, I am showing how it had topped well before the SPX market top since 2018. Holding this idea, as long as BTC does not overshoot its recent high of ~31k, any HH made on SPX without BTC following should only be seen as further divergence and market in the topping process.
Comment:
If BTC does make a new high, then consider further range until end of August.
Blue Vertical line - SPX Top