Long BTC or Short Stocks

Lost support again today, but still holding that area. Very weak relatively speaking.

Relative to the S&P 500 Index, BTC is right where it was in July 2021. I thought it would breakdown there, but it rallied hard instead. Maybe a repeat is coming?

Update: Etherum has the same pattern and a similar test of its low from June to July 2021. Almost at the exact same level too, as you can see from the blue and red horizontal overlapping. Even zoomed in there's barely any space, a difference of $4.