Has SPX bottomed out? Explained

We're looking at a potential sell setup for $S&P 500(.SPX)$ 

And here is why:

1.) On the H4 chart, the price has already been in a descending trend since the peak of December 2022 to date

2.) Price is now testing a key level at 3650.02 where the previous swing low in June sits- prices have fallen about 24% since Jan 2022

3.) There might be some potential pull back before a major break out but if bearish momentum continues, we're looking for the price to go further down to 3225 levels where the previous swing lows and 161.8% extension sit

4.) With all the macro news about interest rate hikes and unemployment, businesses are definitely affected hence we're fundamentally looking at a further downside to SPX

Does anyone have a similar bearish view?

Trade Entry recommendations:

Sell Entry: 3650.02

Take Profit: 3220.74

Stop Loss: 3907.96

Other tickers to recommend:

For 5x Long Leverage: $S&P 5xLongSG250228(CUEW.SI)$ 

For 5x Short Leverage: $S&P 5xShortSG250228(CXBW.SI)$