S&p 500 correlation with bitcoin indicates short term bull

Bitcoin isn't showing any clear signs of what trend it is in . The index has proven to be a reliable bitcoin leading indicator. Currently, the index is in a rising channel. This indicates to me that bitcoin is either nearing or has already reached a bottom in the short term. The risk of buying bitcoin at this level is that it could fall to as low as $20k in the following weeks, but if there is a relief rally, it could reach $40k.
In the coming weeks, I expect a lot of discomfort.
Best wishes and keep yourself safe.